Charity Registration No. 1155108
ABBEY 345 PRE-SCHOOL
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
ABBEY 345 PRE-SCHOOL
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | K Crouch |
|---|---|
| J Harriss | |
| J Bucknell | |
| G Roger (Treasurer) | |
| L Cousins (Chair) | |
| E Owens | |
| Charity number | 1155108 |
| Principal address | Postland Road |
| Crowland | |
| PE6 0JA | |
| Independent examiner | Carolyn Rossiter |
| Rutland House | |
| Minerva Business Park | |
| Lynch Wood | |
| Peterborough | |
| PE2 6PZ |
ABBEY 345 PRE-SCHOOL
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 14 |
ABBEY 345 PRE-SCHOOL
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 AUGUST 2020
The trustees present their report and financial statements for the year ended 31 August 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "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
The charity's objects are t o provide care and education of pre-school age children and enhance their development and education through play and exploration, in surroundings where all families are welcome, valued and enabled to become part of our learning community. Our role is to provide a safe, stimulating environment where with the support of our highly qualified staff, children can develop at their own pace.
The setting is committed to anti-discriminatory practice to promote equality of opportunity and valuing diversity for all children and families.
We instigate and adhere to and further the aims and objects of the Pre School Learning Alliance / EYFS.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
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ABBEY 345 PRE-SCHOOL
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
Achievements and performance
Activities undertaken to further the charity's objectives as a pre-school learning environment
In accordance with the Charities Act and the Charities (Accounts and Reports) Regulations 2008, the trustees have given regard to the guidance on public benefit issued by the Charities Commission.
Abbey 345 Pre-School has had another fantastic - if extremely unusual year, which can only be attributed to the commitment, enthusiasm and professionalism of all the staff and management committee. The support received from parents/carers and members of the local community has also been exceptional.
Kathy (Early Years Manager) and her staff have continued to deliver the Early Years Foundation Stage curriculum to the children, providing care and a wide variety of learning opportunities in a safe and stimulating environment. The first part of the year was very much as usual – but the advent of Covid 19 assured that from March 2020, the way this had to be done changed drastically. Initially the preschool closed for the first national lockdown, followed by a gradual re-opening in June with small bubbles of children and staff, and additional bubbles of children and staff added over the following weeks. Obviously in order to do this safely, a lot of planning and additional re-organisation had to take - to ensure the safety of our children, families and indeed staff.
During the periods of closure and reduced numbers we worked very hard at maintaining links with our families via social media with regular scheduled Facebook posts. These included virtual story times with favourite books read by a variety of staff, interactive song sessions and ideas and links for learning activities to do at home. Regular activity packs were also made up and posted or dropped off to non-attending children in order to provide home learning opportunities. We were unable to have our usual School Readiness leavers party and ceremony but improvised by having a doorstep delivery service, so that each key person had the chance to say goodbye to their key children and hand over their leaver’s gift – all carefully socially distanced of course.
Abbey 345 Pre-School continues to offer a variety of sessions to accommodate the needs of all the local preschool children i.e. Let’s Play Together (for parents/carers and their babies/toddlers, which is free of charge) – temporarily suspended from March 2020, 2+ sessions (a shorter introductory session to pre-school for those aged 2 and above), mixed sessions (ages 2-4) and School Readiness sessions (for those in their pre-school year). We are also registered to deliver the government funded 2 year old entitlement and 30hr funding placement, which a number of families are taking advantage of, by sharing their hours with other settings.
In “normal” years we hold a School Readiness information evening for parents of children who will be starting School Readiness sessions in the September. This includes a demonstration of ‘ideal’ lunch boxes and ‘difficult to open’ food products, a chance to order uniform and book bags. It gives opportunity for staff and parents to meet and discuss how to support children in early writing and phonetics. We also give parents leaflets to support home activities in a range of skills. Sadly this year that did not take place but we did our best to fully support our school readiness children and families under very difficult circumstances.
Yet again we have been able to maintain excellent links with South View Community Primary School this year liaising with Foundation Stage Teachers via phone and Zoom to enable a smooth transition for the children into full-time education.
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ABBEY 345 PRE-SCHOOL
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
Training and development to further the charity's objectives
Abbey 345 Pre-School employs a high caliber of extremely motivated staff and the management team is fully committed to investing in the ongoing training and personal development of each member of the team. Staff have attended both mandatory and specialist training courses throughout the year, enabling them to acquire new skills, keep up-to-date with ‘best practice’, and keep abreast of the ever changing requirements within childcare practice. In the latter part of this year we have had the novel experience of the majority of these being in virtual form – via either Teams or Zoom.
In-house training is also regularly opened up to other Early Years settings and local childminders – in fact we managed to squeeze in First Aid training in the two weeks prior to Lockdown 1 – for both ourselves and 3 other settings.
Jane has completed her Forest School Leader qualifications and we are very proud of her achievement. Well Done Jane! Unfortunately the scheduled presentation of the award was cancelled due to Covid 19 – but we are very much looking forward to starting Forest School and to other staff getting additional training to support her.
At the end of the school year we said a fond farewell to Kym Fountain - who left after working with us for 12 years. Kym has moved into a Social Care position supporting teenagers with special needs and we wish her all the best in her new career.
Our Portage Accreditation was re-awarded in July and we continue to be amongst a very small percentage of nurseries and preschools in the country to have this recognition.
Staff are fully aware of their safeguarding responsibilities and regular supervisions are scheduled giving staff the opportunity for professional discussions. All staff have additional areas of responsibility such as SEN, Inclusion, Behaviour Management, Mathematics, ICT, Communication & Language etc. and are encouraged to develop these within the setting for the benefit of the children.
Extra activities and community events
The first several months of the year saw us engaging with the community including and participating in events which included the annual Crowland Christmas Fayre, our Autumn collection for the Hedgehog Hospital and the introduction of our recycling collection centre. We also became a drop off point for The Crowland Community Larder. During the months of lockdown and restricted activities our staff regularly worked with the Community Larder Team and the Crowland Covid volunteer group, ensuring that families who were struggling financially or people who were shielding still received food and essential supplies.
In the early part of the year we again invited representatives from our local community and beyond to visit us in Pre-School, these included the Crowland Fire Service, Russ the milkman and a range of animals from alpaca’s to hedgehogs We are so grateful to everyone who gave up their time to provide these opportunities for the children.
We missed out on many of our usual special days this year but still enjoyed our Christmas parties – including a very special fundraising event organised jointly with committee and staff – Breakfast with Santa. This proved very popular and the children loved creating their own breakfast pancakes and spending time with Father Christmas – a brilliant performance by our committee chair Lucy. Thanks also to Emily who was a fantastic catering manager/elf. The children took part in celebrating British birds by focusing on the bird life in the pre-school garden for Great British Bird Watch. As you can see it was still a very busy year for us!
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ABBEY 345 PRE-SCHOOL
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
Fundraising achievements
As a not-for-profit organisation it is necessary for us to boost our funds and provide experiences / additional resources, which we cannot meet out of our planned budget.
We started the year with the goal of raising £3,500 and actually, despite the world wide events that overtook us, achieved more than that. This was due in part to our very own Santa’s helper (aka Jane’s dad Nick). Working away in his workshop, just like a supersized elf and assisted by his lovely helper (Jan aka Jane’s mum) he created dozens of wooden snowmen and additional funds of over £500. Emily also had the great idea of organising a Lockdown special “Great British Bake Off” competition that brought in £240. massive well done and thank you to everyone who came to our events, brought raffle tickets, supported our preschool lottery, baked cakes, built snowmen/purchased snowmen and contributed in any way they could.
As well as fundraising for our Pre-School, we believe it is important to support other charitable organisations and this year our children have raised funds for Children in Need, as well as arranging an alternative harvest festival to collect food and resources for a local wildlife charity.
Financial review
During the year to 31 August 2020, on top of the impacts of the coronavirus crisis, the Preschool continued to suffer from minimal increases in government funding alongside significant minimum wage increases. Despite this, we are happy to report a net surplus of £ 4,790 .
The committee and staff continue to monitor expenditure alongside the annual budget which is set to achieve
a small surplus position.
The charity’s reserve policy is to hold sufficient reserves to meet potential redundancy costs that would need to be paid should the charity be in the unfortunate position that it can no longer continue.
At the year end £70,649 (of which £ 57 , 289 is unrestricted) was held in reserves; this amount is considered appropriate to meet the costs of the pre-school given any unforeseen fluctuations in receipts (be that through reduced children numbers or reduced funding levels) or to cover redundancy costs .
The Coronavirus closures from March 2020 were a devastating shock to the Preschool. Significant efforts were made to adapt the setting in order to allow opening in June 2020 under government guidance. In line with the Preschool's ongoing strategy, the team were successful in maintaining a high-quality, Covid-safe setting at minimum cost.
During the year, we introduced a consumables charge and post year end, numbers are recovering and we have successfully extended opening hours on a Tuesday to mitigate the impact of both the coronavirus and minimum wage increases and to continue to operate as a going concern.
The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
Abbey 345 Pre-School is registered with the Charity Commission as a Charitable Incorporated Organisation (CIO), number 1155108. The Charity was first established on 18th March 1987 (Charity No 1036895) and was transferred to the new CIO with effect from 14th October 2014, with a new Pre School Learning Alliance Constitution adopted.
The trustees who served during the year and up to the date of signature of the financial statements were: K Crouch J Harriss J Bucknell
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ABBEY 345 PRE-SCHOOL
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
G Roger (Treasurer) R Wilson (Secretary) (Resigned 22 October 2020) L Cousins (Chair) E Owens Selection of new trustees is by recommendation by existing trustees. The trustees' r eport was approved by the Board of Trustees.
L Cousins (Chair) Trustee Dated: 12 June 2021
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ABBEY 345 PRE-SCHOOL
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ABBEY 345 PRE-SCHOOL
I report on the financial statements of the charity for the year ended 31 August 2020, which are set out on pages 7 to 14.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the financial statements. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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(i) examine the financial statements under section 145 of the 2011 Act;
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(ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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(iii) to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(a) which gives me reasonable cause to believe that in any material respect the requirements:
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(i) to keep accounting records in accordance with section 130 of the 2011 Act; and
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(ii) to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the 2011 Act;
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have not been met or
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(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Carolyn Rossiter
Rutland House Minerva Business Park Lynch Wood Peterborough PE2 6PZ
Dated: 17 June 2021
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ABBEY 345 PRE-SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2020
| Unrestricted Restricted funds funds Notes £ £ Income from: Donations and legacies 2 3,575 2,376 Charitable activities Pre School Grant Funding 77,406 267 Session fees and snack charges 13,926 - Merchandise 305 - Training 275 - Miscellaneous 922 3,200 Fundraising activities 2,522 - Total income 98,931 5,843 Expenditure on: 3 Raising funds Fundraising and publicity 115 - Charitable activities Chirtable expenditure 4 94,767 5,102 Total charitable expenditure 94,767 5,102 Total resources expended 94,882 5,102 Net income for the year/ Net movement in funds 4,049 741 Fund balances at 1 September 2019 53,240 12,619 Fund balances at 31 August 2020 57,289 13,360 |
Total 2020 £ 5,951 77,673 13,926 305 275 4,122 2,522 104,774 115 99,869 99,869 99,984 4,790 65,859 70,649 |
Total 2019 £ 3,296 97,978 18,406 860 1,925 1,005 6,909 |
|---|---|---|
| 130,379 | ||
| 749 | ||
| 110,992 | ||
| 110,992 | ||
| 111,741 | ||
| 18,638 47,221 |
||
| 65,859 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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ABBEY 345 PRE-SCHOOL
BALANCE SHEET
AS AT 31 AUGUST 2020
| Notes Current assets Cash at bank and in hand Net current assets Income funds Restricted funds 8 Unrestricted funds |
2020 £ 70,649 |
£ 70,649 13,360 57,289 70,649 |
2019 £ 65,859 |
£ 65,859 12,619 53,240 65,859 |
|---|---|---|---|---|
The financial statements were approved by the Trustees on 12 June 2021
L Cousins (Chair)
Trustee
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ABBEY 345 PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
Charity information
Abbey 345 Pre-School is a Charitable Incorporated Organisation.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
The trustees have considered the potential impact of the coronavirus, and the various measures taken to contain it, on the operations of the charity . No immediate concerns in relation to the charity's long term future have been identified but this area continues to be monitored. The trustees are satisfied that the steps they have taken in the short term are appropriate and effective.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.
1.5 Expenditure
Costs are recognised in the period in which they are incurred.
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ABBEY 345 PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
(Continued)
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Donations and legacies
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2020 | 2020 | 2020 | 2019 | 2019 | 2019 | |
| £ | £ | £ | £ | £ | £ | |
| Donations and gifts | 75 | 2,376 | 2,451 | 1,547 | 1,749 | 3,296 |
| Donated goods and | ||||||
| services | 3,500 | - | 3,500 | - | - | - |
Voluntary income is received by way of donations and gifts and is included in full in the Financial Statements when received. Gifts in kind are valued at their estimated value to the Charity and included under the appropriate heading when received.
Grants receivable are recognised in full in the financial statements in the year in which they are received.
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ABBEY 345 PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
3 Miscellaneous Income
Included in restricted miscellaneous income is £3,200 received in the year relating to the governments coronavirus job retention scheme. £3,200 of applicable salary costs have been allocated against this income in the year.
4 Charitable activities
| Learning environment Pupil premium and Disability Access expenditure Wages Share of support costs (see note 5) Share of governance costs (see note 5) Analysis by fund Unrestricted funds Restricted funds For the year ended 31 August 2019 Unrestricted funds Restricted funds |
2020 £ 1,804 98 3,200 5,102 93,267 1,500 99,869 94,767 5,102 99,869 |
2019 £ 1,250 4,183 - 5,433 105,559 - 110,992 105,559 5,433 110,992 |
|---|---|---|
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ABBEY 345 PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
| 5 Support costs Support costs Governance costs £ £ Wages 79,621 - Website, computer and telecomunications 883 - Cleaning, repairs and maintenance 702 - Advertising and merchandise 711 - Insurance 1,650 - Learning environment 2,382 - Staff training and welfare 804 - Light, heat and rent 3,449 - Postage and stationery 499 - Miscellaneous 2,566 - Legal and professional - 1,500 93,267 1,500 Analysed between Charitable activities 93,267 1,500 |
2020 £ 79,621 883 702 711 1,650 2,382 804 3,449 499 2,566 1,500 94,767 94,767 |
Support costs Governance costs £ £ 92,651 - 979 - 2,103 - 1,144 - 1,632 - 566 - 779 - 1,786 - 1,019 - 2,900 - - - 105,559 - 105,559 - |
2019 £ 92,651 979 2,103 1,144 1,632 566 779 1,786 1,019 2,900 - 105,559 105,559 |
|---|---|---|---|
6 Trustees
During the year two trustees were remunerated for their roles as Pre-school Manager and Senior Early Years Practitioner. Their remuneration in the year totalled £31,201 (2019: £34,413).
7 Employees
Number of employees
The average monthly number of employees during the year was:
| 2020 | 2019 |
|---|---|
| Number | Number |
| 9 | 10 |
Included in wages costs are salaries of £77,592, social security costs of £2,844 and pension contributions of £2,385.
No individual employees were paid remuneration in excess of £60,000 in the year.
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ABBEY 345 PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
8 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement in funds | Movement in funds | Movement in funds | Movement in funds | |||||
|---|---|---|---|---|---|---|---|---|
| Balance at | Incoming | Resources | Transfers | Balance at | Incoming | Resources | Balance at | |
| 1 September | resources | expended | 1 September | resources | expended | 31 August | ||
| 2018 | 2019 | 2020 | ||||||
| £ | £ | £ | £ | £ | £ | £ | £ | |
| Pupil Premium | 2,476 | 1,267 | (2,345) | - | 1,398 | 685 | (99) | 1,984 |
| Entrance path | 11 | - | (11) | - | - | - | - | - |
| Pirate Ship | 605 | - | (605) | - | - | - | - | - |
| Disability Access | 1,204 | 615 | (1,838) | 19 | - | - | - | - |
| Inclusion Funding | - | 9,407 | - | - | 9,407 | (615) | - | 8,792 |
| Community Champions | 699 | 38 | - | - | 737 | - | - | 737 |
| Cleared down funds | - | 616 | - | - | 616 | - | (153) | 463 |
| Other restricted donations | - | 1,711 | (1,250) | - | 461 | 2,573 | (1,650) | 1,384 |
| HMRC Coronavirus JRS | - | - | - | - | - | 3,200 | (3,200) | - |
| 4,995 | 13,654 | (6,049) | 19 | 12,619 | 5,843 | (5,102) | 13,360 |
Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets this criteria is allocated to the fund.
Pupil premium and disability access funds are allocated to benefit specific qualifying children in line with government guidelines.
The negative income in relation to Inclusion Funding (£615) relates to the repayment of overpaid funds received in the previous year.
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ABBEY 345 PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
9 Related party transactions
There were no disclosable related party transactions during the year (2019- none) .
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