2024-08-31-accounts

Trustees’ Annual Report for the period From: 01/09/2023 Period start date To: 31/08/2024 Period end date

Charity name: Magpie Pre-School Charity Registration Number: 115332811

Objectives and Activities:

Objectives and Activities:
	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	The charity works for the public beneft having as its objective the development and education of children and young people, in particular by: (1) promoting their care and safety, (2) promoting their education and promoting parental involvement, (3) promoting their health and wellbeing, (4) providing services to support them and their families and carers, (5) providing services to individuals holding membership of the CIO, and (6) furthering the aims of the Pre-School LearningAlliance.
Summary of the main activities in relation to those purposes for the public beneft, in particular, the activities, projects or services identifed in the accounts.	Para 1.17 and 1.19	Our main activity is to deliver the Early Years Foundation Stage, within our fully inclusive setting for 2 to 5-year- olds,. In order to do this, we employ childcare managers and practitioners who undertake joint daily planning of activities to meet the needs and interests of the children attending our setting. We deploy a key person approach to ensure that the progress and well-being of all individual children is constantly monitored and feeds into future planning. We ensure that our staf are well trained and therefore able to successfully meet the needs of the children in our care. We promote the importance of the learning environment and endeavour to make this as stimulating as possible. We listen to the views of children, parents and staf and use

		this feedback to inform our improvement work. We accurately assess our children and provide this information to KCC as requested. We develop positive relationships with parents and carers and invite them into our setting as observers or helpers. We value all children as individuals and celebrate Britain’s diversity of culture of ethnicity. We help the children in our care to be happy and healthy. We have policies and procedures in place for all aspects of safeguarding, child protection and health and safety, and we use staf training days and meetings to ensure all staf are fuent in these. We follow the recommendations ofered by our Childcare Suficiency Oficer and the guidance available from the Pre- School LearningAlliance.
Statement confrming whether the trustees have had regard to the guidance issued by the Charity Commission on public beneft	Para 1.18	In all of our work we (the trustees) have regard to the guidance issued by the Charity Commission on public beneft.

Achievements and Performance

Summary of the main achievements of the charity, identifying the diference the charity’s work has made to the circumstances of its benefciaries and any wider benefts to society as a whole.	Para 1.20	During the year, the charity provided a safe, nurturing, and inclusive early years setting for children aged 2–4, many of whom come from families who rely on government-funded childcare places. As a not-for-proft organisation, we have continued to welcome all children, including those who might not be accepted by more commercially driven nurseries. This ensures that families of all fnancial backgrounds are able to access high- quality early years education and care. Recognising that the setting had sufered from underinvestment in previous years, the committee took deliberate steps to improve the

environment and overall quality of provision. These efforts included substantial improvements to indoor and outdoor spaces, investment in appropriate furniture and equipment, and a general uplift in the atmosphere and usability of the setting. These changes have had a transformational effect. Towards the end of the year, we reached full capacity and the setting is no longer viewed as a last resort for childcare, but as a setting of choice. We now serve a broad and diverse crosssection of our community, with children from different backgrounds mixing wonderfully in a joyful, engaging, and caring environment. The result is a setting that provides a genuinely happy and enriching start for its children — one that supports early learning, builds social confidence, and promotes inclusion and opportunity within the wider community.

Financial Review

Review of the charity’s fnancial position at the end of the period	Para 1.21	Expenditure exceeded Income by £9,374.29 during this fnancial period. However, this defcit refects the trustee’s conscious decision to invest from excess reserves into setting improvements and in furtherance of our charitable aims. These were funded in part by £12,183.99 transferred from unrestricted reserves to our current account during the period (not all of which was, ultimately, spent). When this is taken into account, the preschool operated with a modest underlying surplus of £2,809.70, which marks a signifcant improvement on the previous year’s operatingfgures.

Statement explaining the policy for holding reserves stating why they are held	Para 1.22	Our policy is to hold the equivalent of a term’s funds as a reserve. (There are 6 terms within our fnancial year.) This enables us to manage our cash fow during the autumn months (Terms 1 & 2), when our income is signifcantly lower. Where possible unspent monies are also held in reserve to cover unplanned as well as expected maintenance costs of the building and grounds. Restricted access reserves are held in the savings account to cover redundancy and other known costs should there be an unforeseen need to close thepre-school.
Amount of reserves held	Para 1.22	At the end of the period the balances were: HSBC Community Account £14,122.13 HSBC Savings £21,318.96 Petty Cash £114.00 The Community Account is used for day-to-day banking including payment of overheads and salaries. It is the account KCC funding payments and fee payments are received into. Reserves retained in the Savings account are kept separate to cover redundancy. Cash is held as a petty cash balance for purchase of snacks, stationary, art supplies and resources. Although petty cash is not held as cash but the amount is transferred to the manager who records spending andprovides receipts.
Details of fund materially in defcit	Para 1.24	No funds are materially in defcit currently.
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	The setting began this period with a higher number of users than in previous years and ended at full capacity, refecting strong support from both returning and new families. In contrast, the previous period began with an Ofsted grading of_Inadequate_, which left thepre-school unable to

access funding from Kent County
Council (KCC) for the frst two months,
as explained in our 2022/23 return.
The prior years had also been marked
by the uncertainty of the Covid
pandemic and its aftermath.
As a result, the setting had seen no
signifcant investment or improvement
for several years. It had begun to look
somewhat drab, and the committee
felt this contributed to reduced overall
attractiveness and, ultimately,
underutilisation.
This year, the committee secured a
£2,500 grant from Bupa specifcally for
improvements to the outdoor area. In
addition, we identifed unrestricted
reserves that could be deployed
toward broader improvements to the
physical environment and resources.
These included:
• Signifcant upgrades to
outdoor spaces, including the
purchase and construction of a
roofed pergola and seating area
to create an all-weather
outdoor learning and play
space.
• Clearance and tidying of the
forested areabehind the
setting, making it safe and
usable. This created a shaded
outdoor learning area for
summer use, and a stimulating
environment year-round.
• Interior redecoration, which
was long overdue.
• Purchase of new,
appropriately sized furniture
for 2–4-year-olds. Previously,
children were eatingfrom

tables that were too high, even
when seated on chairs that
were themselves oversized —
which was not conducive to
comfortable mealtimes or
table-based activities like arts
and crafts.
• Purchase of air conditioning
unitsto provide relief during
heatwaves, especially in
June/July and early September.
• Replacement of a wastewater
drainage pump.
• Purchase of various white
goodsto support staf, most
notably a new washer-dryer.
These improvements are refected in
this year’s accounts under total
expenditure. While this led to adefcit
of income over expenditureand a
reduced year-end cash balance, it
represents astrategic use of reserves
in line with our duty to maximise the
beneft of funds for our current and future benefciaries.
The setting is much improved as a
result, and the committee does not
anticipate similarly high levels of
expenditure in the near future.
The committee has no concerns
regarding the setting’s status as a
going concern.

Additional Information (optional)

The charity’s principal sources of funds (including any fundraising)	Para 1.47	The charity’s principal sources of funds are fees collected from children (mainly aged 2 years) attending the Pre-School and income received from KCC for those children aged 3 and above who are entitled to funded

sessions. We receive a smaller amount of funding in total for children identified as FF2 and, separately, extra provision for specific children identified

Structure, Governance and Management

Type of governing document	Para 1.25	Constitution Document
How is the Charity Constituted	Para 1.25	CIO
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Members of the preschool (i.e family members) may ofer to become a trustee at any point though are invited to put themselves forward at the AGM. Trustees are appointed by existing committee members/trustees. Associate members may also be accepted by the charity where they can ofer support to the pre-school and contribute to ensuring and obtainingthe charitiesgoals.

Additional Information (optional)

Policies and procedures adopted for the induction and training of trustees	Para 1.51	Trustees complete DBS checks in line with statutory requirements. Trustees meet regularly (at least once a term), are in email contact as necessary and work collaboratively on all aspects of the role. Induction and training take place as part of our regular meetings. Trustees are required to agree to and sign a trustee Code of Conduct, Confdentiality policy and Declaration of Interest policy. Any confict of interest must be shared before any decision making and trustees may need to abstain from voting if there is a confict of interest. Trustees are also provided an introductory level of safeguarding training as non-childcare volunteers. All trustees give their time voluntarily and receive no benefts from the charity.

The charity’s organisational structure and any wider network with which the charity works	Para 1.51	The Pre-School management structure consists of a full-time pre- school Manager who has overall responsibility for the pre-school and the stafing team. A Deputy Manager leads on the foor supported by their team to ensure the daily childcare and safety needs are met. The Manager is the Ofsted nominated person and also is a trustee. The committee work closely with the Manager to ensure all requirements and legislation are met and work together on staf recruitment. Staf salaries are reviewed by the trustees annually. The Manager is excluded from discussion of their salaryreview.
Relationship with any related parties	Para 1.51	Where benefcial or appropriate, the Manager and/or Trustees meet with the Head Teacher and/or Early years lead at Boughton Primary school. Magpie pre-school is separate to, but is situated with on the grounds of the school.

Reference and Administrative Details

Charity Name: Magpie Pre-School Other names the charity uses: Registered Charity Number: 115332811

Charity’s Principal address: Magpie Preschool, C/O Boughton-under-Blean & Dunkirk Primary School, School Lane, Boughton-under-Blean, Faversham, ME13 9AW

For and on behalf of Magpie Preschool, by:

Justin Bradford Treasurer, Trustee

Tracie Corrigan, Manager, Trustee

Magpie Preschool

Financial Statement for the period 01.09.2023 to 31.08.2024

Income (excluding reserve transfers)

Category	Amount
KCC Income (Early Years Funding)	£84,872.55
Fee Income (Parents)	£12,248.57
Grant Income	£2,500.00
Donations	£22.37
Interest	£565.94
Total Income	£100,209.43
Expenses
Category	Amount
Wages	£72,842.33
Improvements	£15,917.85
Utilities (Electricity/Water/etc.)	£6,181.25
Maintenance	£4,441.04
Pension Contributions	£2,556.23
Rent	£2,400.00
Insurance	£1,380.47
Petty Cash Reimbursements	£1,242.92
Supplies	£756.22
Subscriptions	£704.59
Staf Training	£402.00
Miscellaneous	£250.85
Staf Entertaining (Christmas)	£247.78
Children’s Entertainment	£154.50

Category	Amount
Banking Charges	£62.59
Ofsted	£35.00
Admin (DBS checking)	£8.10
Total Expenditure	£109,583.72

Surplus Income Over Expenditure (before use of reserves)

£(9,374.29) deficit

Note: The deficit reflects the trustees’ conscious decision to invest in setting improvements. These were funded in part by £12,183.99 transferred from unrestricted reserves to our current account (not all of which was ultimately spent). When this is taken into account, the preschool operated with a modest underlying surplus of £2,809.70

Statement of Assets as at 01[st] September 2023 (start of year)

Asset	Amount
HSBC Community Account	£11,878.36
HSBC Savings	£32,900.98
Petty Cash	£150.00
Total Cash Assets	£44,929.34

Statement of Assets as at 31st August 2024 (end of year)

Asset	Amount
HSBC Community Account	£14,122.13
HSBC Savings	£21,318.96
Petty Cash	£114.00
Total Cash Assets	£35,555.09

Change in Assets: £(9,374.25)

Treasurer’s Financial Report – 2023/24

Prepared by Justin Bradford – Trustee and Treasurer

The academic year 1st September 2023 to 31st August 2024 was an important one for Magpie Preschool. It marked a period of continued post-COVID stabilisation, sustained community demand, and a series of purposeful investments into the setting.

Headline Financials

Magpie Preschool generated a modest operating surplus in 2023/24, with day-to-day income exceeding day-to-day expenditure by approximately £2,839.73 . This reflects a healthy operating position, and significant improvement on the operating position achieved the previous year.

We continue to operate on a not-for-profit basis. Surpluses are not retained for profit but reinvested to improve our services in line with our charitable objects — namely, to provide a safe, engaging and developmentally enriching early years environment for children in the local community.

Improvements to the Setting

In 2023/24, the Trustees made a conscious decision to pursue and apply grant funding — and to supplement this with withdrawals from our unrestricted reserves — to fund a number of one-off improvements to the preschool’s physical environment and resources. These included:

• Upgrades to outdoor spaces, including pergola and seating area to create an outdoor classroom, and significant clearance/tidying of the forest area to create a cool, shaded outdoor environment for spring/summer use.

• Interior redecoration

• Purchase of new, more appropriate furniture (sized specifically for 2-4 year olds)

• Purchase of air conditioners

• Replacement of the drainage pump

• Purchase of various white goods to support staff

These improvements are reflected in the accounts as part of our total expenditure for the year. While this naturally reduces the year-end cash balance, it represents a planned and strategic use of reserves , in line with our duty to maximise the benefit of funds for our current and future beneficiaries.

Petty Cash and Year-End Position

The preschool’s petty cash system continued to be managed responsibly, and was used for small incidental and consumables spending throughout the year. The closing petty cash balance of £86.70 forms part of the preschool’s year-end cash holdings and has been recorded accordingly.

Looking Ahead

Though not captured in the 2023/24 accounts, I can report that Magpie Preschool has been at full capacity throughout the 2024/25 academic year to date , and we expect it to be our

highest-grossing year on record . This reflects the sustained trust placed in us by local families and the hard work of our staff and leadership and, we believe, a return on our decision to invest in the setting during the 2023/24 academic year.

As always, the Trustees remain committed to prudent financial stewardship and to making informed, balanced decisions that protect the future sustainability of the preschool.

We are grateful to the families, grant-makers and community partners who have supported us during the year, and to our staff for their continued dedication.

Justin Bradford FPFS TEP

Treasurer

25-June-2025

Independent examiner’s report to the trustees of Magpie Pre-school Trust

I report to the trustees on my examination of the accounts of the Magpie Pre-School Trust (the Trust) for the year ended 31 August 2024.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act 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.

Independent examiner’s statement

I have completed my examination. I confirm that no material 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 Trust as required by section 130 of the Act;

or

1. The accounts do not accord with those records.

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.

Signed:

Name: Rebecca Ames

Relevant professional qualification or membership of professional bodies (if any): Chartered Accountant (Fellow of ICAEW)

Address: 5 Thistledown Crescent, Ipswich, Suffolk IP1 6FF

Date: 30/06/2025