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2021-08-31-accounts

REGISTERED COMPANY NUMBER: 08275520 (England and Wales) REGISTERED CHARITY NUMBER: 1151608

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 August 2021

for

Middleton Cheney Pre-school Limited

S A Gale The Tile House Marston St lawrence Banbury Oxfordshire OX17 2DA

Middleton Cheney Pre-school Limited

Contents of the Financial Statements for the Year Ended 31 August 2021

Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Notes to the Financial Statements 10 to 15
Detailed Statement of Financial Activities 16 to 17

Middleton Cheney Pre-school Limited

Report of the Trustees for the Year Ended 31 August 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2021. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES Objectives and aims

.

To enhance the development and education of children under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups and by

a. Offering appropriate play education and care facilities, family learning and extended hours groups, together with the right of parents to take responsibility for and to become involved in the activities of such groups , ensuring the such groups offer opportunities for children whatever their race, culture, religion , means or ability.

b. Encouraging the study of the needs of such children and their families and promoting public interest in and recognition of such needs in the local areas.

c. Instigating and adhering to and furthering the aims and objectives of the pre-school learning alliance.

Public benefit

The trustees have due regard to guidance published by the Charities Commission on public benefit.

Volunteers

We have a number of volunteers such as fundraisers and management team. The management team work hard to help make decisions on keeping the Pre school running. The fundraisers can do anything from advertising events, helping out at events and gaining match funding.

Page 1

Middleton Cheney Pre-school Limited

Report of the Trustees for the Year Ended 31 August 2021

ACHIEVEMENT AND PERFORMANCE Charitable activities

Middleton Cheney Pre-school Limited Managers and Directors End of Year Report

The year 2020-2021 was difficult on many levels, but I am pleased to report that, characteristically, we rose to the challenge and got through it.

Considering the Covid epidemic and heightened anxiety levels, our pupil figures remained good starting in September where we ran at 69% occupancy and welcomed 19 new starters. This rose to 93% occupancy by April 2021. In July, 38 children left for school with the majority still going to the village school, and others going to Hill View, Cropredy, Culworth, Carrdus and Chacombe Schools.

In September 2020 we welcomed 3 new members of staff to our team - Emilia, Pam and Heidi - they have all settled in well and, the decision to take on extra staff has proved to be invaluable during what has been a very difficult year. In October, we also welcomed back Kim after her maternity leave, and it was great to have her input and expertise back with us. It has been a very challenging year for staff not only at work but also on a personal level with worries about lockdown, self isolation, illness, bereavement, and various family crises, and it is true testimony to the strength of this new team that everyone has pulled together to support each other and deliver the very best care and education we can in very trying circumstances

Staff have continued to participate in online and in house training.

The year was inevitably dominated by the Covid epidemic and over the year we were lucky enough to have only experienced 3 isolated cases. The fact that these did not spread, can be attributed to the success of our infection control measures, particularly the ventilation of the building, and the rigorous cleaning of the setting which has taken place every day. The government devised 'bubble system' meant that on each occasion, we sadly had to send home both staff and children, which was hugely disruptive, and sometimes upsetting to everyone, and we were grateful for the understanding and patience of the vast majority of our parents/carers in these difficult circumstances.

Within the management team, Kate Bannister and Taiba Smith continue as Directors with John Taylor continuing on standby for the building sale which now has been on hold for nearly 2 years. Ali Collier and James Cromack continue on the management team with a main focus on the Christmas float fundraiser. We also gave Claire Pitt a warm welcome as she joined the management team, Claire's main focus has been on various fundraising activities.

We are very grateful to our directors, management and fundraising teams who again supported us throughout the year. The fundraising meant that we were able to purchase new book corner furniture and a craft cupboard as well as replace some of our much loved but worn toys such as tuff tray covers, and knights and fairies. Opportunities for fundraising were limited last year, and we are very grateful to James, Alli and the team for running the Christmas float, and to Claire who organised other events such as the Easter and Christmas raffles and is always busy looking into funding opportunities and fundraising events for the future. Thankyou from the bottom of our hearts. An overview of our fundraising activity can be found on page 3.

In spite of everything, the children all continued to thrive and made good progress through the year. There were some activities which we weren't able to offer due to infection control e.g mass communal time, playdough and some messy play, however, we became very inventive in being able to offer similar experiences in a covid safe way so the children didn't miss out too much. Many of the measures we implemented as a result of Covid, are set to stay forever as they have proved successful e.g. the back garden entry system in the morning.

We are looking forward to this new academic year and the introduction of a revised curriculum with the new Early Years Foundation Stage document coming into force in September. The aim of this is to be much more child centred and less paperwork driven for staff. It will be a year of trial and error until we get it right but, as a team, I know we will meet this challenge and become the stronger for it.

Page 2

Middleton Cheney Pre-school Limited

Report of the Trustees for the Year Ended 31 August 2021

ACHIEVEMENT AND PERFORMANCE

Fundraising activities

Financially, we have continued to hold the Reserves amount required to assist us in cover for periods of loss making and lower income. Asis the case for many charities currently,we have seen our income especially from fundraising drop within the year, this has been offset by reduced spending and enhancements to the setting. We are looking forward with hope the next year will see us back to pre covid fundraising and have plans on where the additional funds raised could be spent . It would be nice to think that the next academic year will be easier than 2020-21, however, we are under no illusions, and think it will still be full of challanges but ones we know we can meet and overcome.

OVERVIEW FUNDRAISING ACTIVITY

Activities
Easter Egg Raffle, monies found

Tesco uniform sale commission

Xmas Float

Commission Christmas card order

Bonnets and Easter Raffle

Commission for My Name Tags

Matched Funding

Amazon Commission and community fundraising

Total
30.00
14.73
1814.00
66.89
622.50
23.00
500.00
12.34
3083.46
Donations Received
Shire Homes

Howdens Joinery

Sports & Social Club

Banbury Lions

Parent donations

Total

Specified Fundraising Purchases
T shirts for new starters

Disney Cds

Water Butt

Helmets and Mats for Tuff spots

organza for summer tent building

Treated as fixed assets:-
Community playthings , new toy storage cupboard

Library corner cupboard

Art cupboard

Total
500.00
250.00
200.00
300.00
121.00
1371.00
222.00
15.19
45.99
112.03
25.43
420.64
948.00
1882.80
667.20
3498.00
3918.64

Page 3

Middleton Cheney Pre-school Limited

Report of the Trustees

for the Year Ended 31 August 2021

FINANCIAL REVIEW

Reserves policy

Reserves are held sufficient to ensure that the charity is able to operate and function during periods of lower income with amounts also set aside to cover unexpected events.

We implemented a Reserves Policy early on in the financial year in order to cover us for any periods where we have to work at lower income. A sufficient reserve amount will be allocated in order to ensure sustained work. The reserve amount will be set aside for unexpected events, for example, redundancies, lower occupancy levels, emergencies, relocation of building or source funding not being available. In the event of reserves falling significantly below the required level, the setting will restore the reserves as soon as possible by increasing fundraising, increasing earned income and reducing expenditure. If reserves are significantly above target level, the setting will put in place a plan as soon as possible, aiming to eliminate the excess within four years on enhancing the quality of the setting or by reducing fundraising.

Financially, we have continued to hold the Reserves amount required to assist us in cover for periods of loss making and lower income. As is the case for many charities currently, we have seen our income especially from fundraising drop within the year, this has been offset but reduced spending and enhancements to the setting. We are looking forward with hope the next year will see us back to pre Covid fundraising and have plans on where the additional funds raised could be spent.

Movements on each of the Charity's funds are detailed in note 14 to the accounts

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The appointment of new Trustees is carried out in accordance with the Charities Articles of association Any person who is willing to act as a director, and is permitted by law to do so, may be appointed to be a director-

(a) by ordinary resolution, or

(b) by a decision of the directors.

(2) In any case where, as a result of death, the company has no members and no directors, the personal representatives of the last member to have died have the right, by notice in writing, to appoint a person to be a director.

(3) For the purposes of paragraph (2), where 2 or more members die in circumstances rendering it uncertain who was the last to die, a younger member is deemed to have survived an older member.

Chairman is appointed by the directors

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

08275520 (England and Wales)

Registered Charity number

1151608

Registered office

Middleton Cheney Preschool Main road Middleton Cheney Banbury Oxfordshire OX17 2PD

Page 4

Middleton Cheney Pre-school Limited

Report of the Trustees for the Year Ended 31 August 2021

Trustees

Dr J A Taylor Mrs K J Bannister Mrs T M Smith

Company Secretary Mrs E L A Thomas

Independent Examiner

S A Gale ICAEW S A Gale The Tile House Marston St lawrence Banbury Oxfordshire OX17 2DA

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 11 May 2022 and signed on its behalf by:

Mrs K J Bannister - Trustee

Page 5

Independent Examiner's Report to the Trustees of Middleton Cheney Pre-school Limited

Independent examiner's report to the trustees of Middleton Cheney Pre-school Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2021.

Responsibilities and basis of report

As the charity's 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 charity'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:

  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

  2. 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

  3. 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.

S A Gale ICAEW S A Gale The Tile House Marston St lawrence Banbury Oxfordshire OX17 2DA

11 May 2022

Page 6

Middleton Cheney Pre-school Limited

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 August 2021

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
3,867
Charitable activities
4
Preschool
162,872
Other trading activities
3
3,526
Other income
87
Total
170,352
EXPENDITURE ON
Raising funds
474
Charitable activities
Preschool
174,203
Total
174,677
NET INCOME/(EXPENDITURE)
(4,325)
RECONCILIATION OF FUNDS
Total funds brought forward
80,142
TOTAL FUNDS CARRIED FORWARD
75,817
Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
31.8.21
Total
funds
£
3,867
162,872
3,526
87
170,352
474
174,203
174,677
(4,325)
80,142
75,817
31.8.20
Total
funds
£
750
163,618
4,545
79
168,992
332
171,132
171,464
(2,472)
82,614
80,142

The notes form part of these financial statements

Page 7

Middleton Cheney Pre-school Limited

Balance Sheet

31 August 2021

31.8.21 31.8.20
Unrestricted Restricted Total Total
fund funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 9 4,404 - 4,404 6,283
CURRENT ASSETS
Debtors 10 951 - 951 1,574
Cash at bank 71,369 - 71,369 72,968
CREDITORS 72,320 - 72,320 74,542
Amounts falling due within one year 11 (907) - (907) (683)
NET CURRENT ASSETS 71,413 - 71,413 73,859
TOTAL ASSETS LESS CURRENT
LIABILITIES 75,817 - 75,817 80,142
NET ASSETS 75,817 - 75,817 80,142
FUNDS 13
Unrestricted funds 75,817 80,142
TOTAL FUNDS 75,817 80,142

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 8

Middleton Cheney Pre-school Limited

Balance Sheet - continued 31 August 2021

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

The financial statements were approved by the Board of Trustees and authorised for issue on 11 May 2022 and were signed on its behalf by:

J A Taylor - Trustee

K J Bannister - Trustee

T M Smith - Trustee

The notes form part of these financial statements

Page 9

Middleton Cheney Pre-school Limited

Notes to the Financial Statements

for the Year Ended 31 August 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Governance costs

Include the cost of the preparation and examination of the statutory accounts, the cost of Trustee meetings and the cost of any legal advice to Trustees on governance or constitutional matters.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings & equipment - 25% on cost Computer equipment - 25% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the Charity Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 10

Middleton Cheney Pre-school Limited

Notes to the Financial Statements - continued

for the Year Ended 31 August 2021

2.
DONATIONS AND LEGACIES
Donations
State Aid Furlough and SSP
3.
OTHER TRADING ACTIVITIES
Fundraising events
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
NCC/WNC Preschool
Funding
Preschool
Admissions
Preschool
5.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Independent Examination
Depreciation - owned assets
31.8.21
£
1,371
2,496
3,867
31.8.21
£
3,526
31.8.21
£
119,851
43,021
162,872
31.8.21
£
600
5,377
31.8.20
£
750
-
750
31.8.20
£
4,545
31.8.20
£
130,144
33,474
163,618
31.8.20
£
600
5,870

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.

continued...

Page 11

Middleton Cheney Pre-school Limited

Notes to the Financial Statements - continued

for the Year Ended 31 August 2021

7.
STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Pre school staff
No employees received emoluments in excess of £60,000.
8.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
750
Charitable activities
Preschool
163,618
Other trading activities
3,898
Other income
79
Total
168,345
EXPENDITURE ON
Raising funds
332
Charitable activities
Preschool
170,485
Total
170,817
NET INCOME/(EXPENDITURE)
(2,472)
RECONCILIATION OF FUNDS
Total funds brought forward
82,614
TOTAL FUNDS CARRIED FORWARD
80,142
31.8.21
£
133,381
782
1,528
135,691
31.8.21
15
Restricted
funds
£
-
-
647
-
647
-
647
647
-
-
-
31.8.20
£
122,360
2,102
1,506
125,968
31.8.20
13
Total
funds
£
750
163,618
4,545
79
168,992
332
171,132
171,464
(2,472)
82,614
80,142

continued...

Page 12

Middleton Cheney Pre-school Limited

Notes to the Financial Statements - continued

for the Year Ended 31 August 2021

9. TANGIBLE FIXED ASSETS

9. TANGIBLE FIXED ASSETS
Fixtures,
fittings Computer
& equipment equipment Totals
£ £ £
COST
At 1 September 2020 15,568 10,857 26,425
Additions 3,498 - 3,498
At 31 August 2021 19,066 10,857 29,923
DEPRECIATION
At 1 September 2020 12,359 7,783 20,142
Charge for year 2,924 2,453 5,377
At 31 August 2021 15,283 10,236 25,519
NET BOOK VALUE
At 31 August 2021 3,783 621 4,404
At 31 August 2020 3,209 3,074 6,283
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors 31.8.21
£
(124)
31.8.20
£
964
Prepayments 1,075 610
951 1,574
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social security and other taxes 31.8.21
£
(289)
31.8.20
£
-
Nest Pension 3 (51)
Other creditors 134 135
Accruals and deferred income 1,059 599
907 683
12. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year 31.8.21
£
9,250
31.8.20
£
9,250
Between one and five years 37,000 37,000
In more than five years 5,828 15,078
52,078 61,328

The Middleton Cheney Preschool Limited have the lease of their preschool buildings with Northampton County Council for ten years from April 2017 with a break clause after 5 years.

continued...

Page 13

Middleton Cheney Pre-school Limited

Notes to the Financial Statements - continued

for the Year Ended 31 August 2021

13. MOVEMENT IN FUNDS

At 1.9.20
£
Unrestricted funds
General fund
80,142
TOTAL FUNDS
80,142
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
170,352
TOTAL FUNDS
170,352
Comparatives for movement in funds
At 1.9.19
£
Unrestricted funds
General fund
82,614
TOTAL FUNDS
82,614
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
168,345
Restricted funds
Middleton Cheney PA Joint fundraising
647
TOTAL FUNDS
168,992
Net
movement
At
in funds
31.8.21
£
£
(4,325)
75,817
(4,325)
75,817
Resources
Movement
expended
in funds
£
£
(174,677)
(4,325)
(174,677)
(4,325)
Net
movement
At
in funds
31.8.20
£
£
(2,472)
80,142
(2,472)
80,142
Resources
Movement
expended
in funds
£
£
(170,817)
(2,472)
(647)
-
(171,464)
(2,472)

continued...

Page 14

Middleton Cheney Pre-school Limited

Notes to the Financial Statements - continued for the Year Ended 31 August 2021

13. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.9.19 in funds 31.8.21
£ £ £
Unrestricted funds
General fund 82,614 (6,797) 75,817
TOTAL FUNDS 82,614 (6,797) 75,817
A current year 12 months and prior year 12 months combined net movement in funds, included in the above
as follows:
Unrestricted funds Incoming
resources
£
Resources
expended
£
Movement
in funds
£
General fund 338,697 (345,494) (6,797)
Restricted funds
Middleton Cheney PA Joint fundraising 647 (647) -
TOTAL FUNDS 339,344 (346,141) (6,797)

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2021.

15. ULTIMATE CONTROLLING PARTY

The Charitable company limited by guarantee has at present no members and is under the control of its Trustees

Page 15

Middleton Cheney Pre-school Limited

INCOME AND ENDOWMENTS
Donations and legacies
Donations
State Aid Furlough and SSP
Other trading activities
Fundraising events
Charitable activities
NCC/WNC Preschool Funding
Admissions
Other income
Uniform sales
Total incoming resources
EXPENDITURE
Other trading activities
Fund raising event costs
Charitable activities
Wages
Social security
Pensions
Rent and rates
Insurance
Light and heat
Telephone
Postage and stationery
Sundries
Consumables
Toys and equipment
Cleaning and hygiene provision
Snacks and drinks
Office equipment repairs
Staff training and travel
Subscriptions and licences
Professional fees
Bank charges
Bad Debts
Repairs and renewals
Computer consumables
Carried forward
Detailed Statement of Financial Activities
for the Year Ended 31 August 2021
31.8.21
31.8.20
£
£
1,371
750
2,496
-
3,867
750
3,526
4,545
119,851
130,144
43,021
33,474
162,872
163,618
87
79
170,352
168,992
474
332
133,381
122,360
782
2,102
1,528
1,506
8,889
9,997
1,218
1,407
1,098
680
811
711
1,389
1,359
739
1,642
1,611
1,823
503
566
10,001
7,869
366
1,596
-
374
1,156
872
2,212
2,718
194
510
-
20
8
(946)
1,600
6,564
318
428
167,804
164,158

This page does not form part of the statutory financial statements

Page 16

Middleton Cheney Pre-school Limited

Charitable activities
Brought forward
Application of fundraising
Depn of fixtures & fittings
Depn of computer equipment
Support costs
Governance costs
Independent examination
Total resources expended
Net expenditure
Detailed Statement of Financial Activities
for the Year Ended 31 August 2021
31.8.21
31.8.20
£
£
167,804
164,158
421
503
3,328
3,418
2,050
2,453
173,603
170,532
600
600
174,677
171,464
(4,325)
(2,472)

This page does not form part of the statutory financial statements

Page 17