**Charity registration number 1155108**
## **ABBEY 345 PRE-SCHOOL**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **ABBEY 345 PRE-SCHOOL**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
K Crouch J Harriss J Bucknell G Neale (Chair) K Patman (Treasurer from 31/01/24) (Appointed 1 November 2023) C Gregory (Appointed 1 November 2023)
**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 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 9|
## **ABBEY 345 PRE-SCHOOL**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
The trustees present their annual report and financial statements for the year ended 31 August 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 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 to 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.
## **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 an amazingly successful 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.
We were sadly hit very hard with a visit from Ofsted who changed our status from Outstanding to Good. It was a blow that we were not expecting, with Ofsted also having changed what they regard as Outstanding. Special note was made regarding the management of the setting and their dedication. Staff are always prepared for a visit from Ofsted and regularly invite advisors to suggest improvements.
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.
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), 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.
Yet again we have been able to maintain excellent links with South View Community Primary School liaising with Foundation Stage Teachers and facilitating a school visit to the setting to enable a smooth transition for the children into full-time education.
Building maintenance has become an issue with the building coming to a point in time where it needs more money spent to bring equipment, fixtures and fittings up to date. Frozen pipes causing issues will hopefully be a thing of the past with the plumbing network being bought inside the building. The ramp to the main door has been replaced, like for like, with the addition of a roof and some water proofing. Guttering has been assessed and had brushes inserted to stop any clogs that may form.
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## **ABBEY 345 PRE-SCHOOL**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## _**Training and development to further the charity's objectives**_
Abbey 345 Pre-School employs a high calibre 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. Face-to-face courses, along with some remaining in virtual form, has been a welcome return.
Forest School has proved to be both successful & highly enjoyable from the feedback received. Well done Jane, a fantastic achievement.
We have added 1 new member of staff to our staff team this year; a welcome energy bringing with her experience from her previous setting. We were also sad to say goodbye to one staff member during the year.
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**_
It was nice to return to some of our pre-covid ways and see families face to face.
We continued to work closely with Crowland Community larder and remain a drop off point for supplies for more vulnerable families in the community.
Regular outings have resumed away from the setting. School Readiness children were able to visit Flatland Alpacas Thank you to everyone who gave their support for the day.
Forest School experience evening, where parents are invited to share in the joy that the woods brings were able to take part in den building, music, playdough mini beasts and most exciting of all campfire cooking – complete with marshmallows!
Many of our special days returned this year with children especially enjoying our Christmas parties. Special fundraising events organised by staff proved very popular and the children loved parents coming into the setting to take part in raffles, cake sales, games and more. The Leavers party having also returned, with emotional parents genuinely sad their child has to leave a place they have loved and thrived in.
The trees planted from the woodland trust during 21/22 year suffered dramatically in the horrendous heatwaves and sadly have not been as successful as hoped. There are plans to plant replacement trees in November 2024.
We worked very hard at maintaining links with our families via social media with regular scheduled Facebook posts. These included ideas & links to learning activities at home as well as updates with happenings in the setting.
As you can see it was still a very busy year for us!
## _**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.
Our annual Christmas and Easter Hampers which had previously had to move entirely online, were back to in person sales (as well as online). The Christmas Light Switch On allowed additional tickets to be sold for the Christmas hampers which was a very welcome boost. Thank you to everyone who contributed towards these or bought tickets.
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.
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## **ABBEY 345 PRE-SCHOOL**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **Financial review**
During the year to 31 August 2023, on top of the impacts of the ongoing cost of living crisis, the Preschool continued to suffer from minimal increases in government funding alongside significant minimum wage increases. Following ongoing cost and income generating reviews, we are happy to report a net surplus of £27,727.
The committee and staff continue to monitor expenditure alongside the annual budget which is set to achieve a break-even 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 £159,226 (of which £141,451 is unrestricted) was held in reserves; included in this is an amount allocated against future capital, urgent refurbishment and technological update projects sufficient to leave the remaining balance at a level considered appropriate to meet the costs of the pre-school given any unforeseen fluctuations in receipts or expenditure (be that through reduced children numbers or increased costs to run) or to cover redundancy costs. The preschool have also taken the decision to designate £22,000 of unrestricted funds to be used to fund the additional needs of SEN/high needs children in the next year whilst funding from the local council is pending.
Faced with continuing minimum wage increases that are unsupported by the government funding received by the setting, alongside the ongoing cost of living crisis that is affecting all costs faced by the preschool, we continue to implement new ways to increase, in a sustainable way, the income that the preschool receives in order 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 G Roger (Treasurer to 31/01/24) (Resigned 31 January 2024) G Neale (Chair) K Patman (Treasurer from 31/01/24) (Appointed 1 November 2023) C Gregory (Appointed 1 November 2023)
Selection of new trustees is by recommendation by existing trustees.
The trustees' report was approved by the Board of Trustees.
## **G Neale (Chair)**
Trustee Dated: 24 June 2024
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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 2023, which are set out on pages 5 to 9.
## **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:
- (i) examine the financial statements under section 145 of the 2011 Act;
- (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
- (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:
- (a) which gives me reasonable cause to believe that in any material respect the requirements:
- (i) to keep accounting records in accordance with section 130 of the 2011 Act; and
- (ii) to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the 2011 Act;
- have not been met or
- (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: 25 June 2024
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## **ABBEY 345 PRE-SCHOOL**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 AUGUST 2023**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
2,596
507
Charitable activities
Pre School Grant Funding
130,117
22,917
Session fees and snack charges
26,516
-
Merchandise
225
-
Training
220
-
Miscellaneous
80
-
Fundraising activities
2,888
-
**Total income**
162,642
23,424
**Expenditure on:**
Raising funds
Fundraising and publicity
448
-
Charitable activities
Charitable expenditure
**1**
140,783
17,108
**Total charitable expenditure**
140,783
17,108
**Total resources expended**
141,231
17,108
**Net incoming resources before transfers**
21,411
6,316
Gross transfers between funds
13,978
(13,978)
**Net income/(expenditure) for the year/**
**Net movement in funds**
35,389
(7,662)
Fund balances at 1 September 2022
106,062
25,437
**Fund balances at 31 August 2023**
141,451
17,775|**Total**
**2023**
**£**
3,103
153,034
26,516
225
220
80
2,888
186,066
448
157,891
157,891
158,339
27,727
-
27,727
131,499
159,226|**Total**
**2022**
**£**
6,509
134,307
21,747
322
-
389
4,595|
|---|---|---|
|||167,869|
|||906|
|||127,941|
|||127,941|
|||128,847|
|||39,022
-|
|||39,022
92,477|
|||131,499|
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 2023**_
|**Notes**
**Current assets**
Cash at bank and in hand
Net current assets
**Income funds**
Restricted funds
**6**
Unrestricted funds|**2023**
**£**
159,226|**£**
159,226
17,775
141,451
159,226|**2022**
**£**
131,499|**£**
131,499|
|---|---|---|---|---|
|||||25,437
106,062|
|||||131,499|
The financial statements were approved by the Trustees on 24 June 2024
G Neale (Chair) **Trustee**
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## **ABBEY 345 PRE-SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **1 Charitable activities**
|Learning environment
Pupil premium and Disability Access expenditure
Wages
Share of support costs (see note 2)
Share of governance costs (see note 2)
**Analysis by fund**
Unrestricted funds
Restricted funds
**For the year ended 31 August 2022**
Unrestricted funds
Restricted funds|**2023**
**£**
1,464
5,762
9,882
17,108
139,033
1,750
157,891
140,783
17,108
157,891|**2022**
**£**
150
4,990
13,675|
|---|---|---|
|||18,815
107,376
1,750|
|||127,941|
|||109,126
18,815|
|||127,941|
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## **ABBEY 345 PRE-SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **2 Support costs**
|Wages
Website, computer and
telecomunications
Cleaning, repairs and
maintenance
Advertising and
merchandise
Insurance
Learning environment
Staff training and welfare
Light, heat and rent
Postage and stationery
Miscellaneous
Legal and professional
Analysed between
Charitable activities|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
119,932
-
729
-
4,583
-
528
-
2,039
-
1,742
-
894
-
4,811
-
615
-
3,160
-
-
1,750
139,033
1,750
139,033
1,750|**2023**
**£**
119,932
729
4,583
528
2,039
1,742
894
4,811
615
3,160
1,750
140,783
140,783|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
93,509
-
453
-
3,540
-
603
-
1,688
-
1,270
-
960
-
2,451
-
538
-
2,364
-
-
1,750
107,376
1,750
107,376
1,750|**2022**
**£**
93,509
453
3,540
603
1,688
1,270
960
2,451
538
2,364
1,750|
|---|---|---|---|---|
|||||109,126|
|||||109,126|
## **3 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 £39,451 (2022: £35,428).
## **4 Employees**
There were no employees whose annual remuneration was more than £60,000.
## **5 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
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## **ABBEY 345 PRE-SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **6 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**|**Balance at**|**Incoming**|**Resources**|**Transfers**|**Balance at**|
||**1 September**|**resources**|**expended**|**1 September**|**resources**|**expended**||**31 August**|
||**2021**|||**2022**||||**2023**|
||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|Pupil Premium|4,838|6,351|(4,498)|6,691|6,827|(4,329)|-|9,189|
|Winter Grant|216|-|-|216|-|-|-|216|
|Disability Access|545|1,600|(483)|1,662|3,271|(933)|-|4,000|
|Inclusion Funding|16,131|11,228|(13,684)|13,675|12,596|(10,382)|(13,978)|1,911|
|Community Champions|1,267|-|(150)|1,117|-|-|-|1,117|
|Cleared down funds|188|-|-|188|-|-|(188)|-|
|Other restricted donations|1,384|504|-|1,888|730|(1,464)|188|1,342|
||24,569|19,683|(18,815)|25,437|23,424|(17,108)|(13,978)|17,775|
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, inclusion funding and disability access funds are allocated to benefit specific qualifying children in line with government guidelines.
Despite SEN and high needs children being in setting throughout the year, unfortunately the timing of funding receipts is often not until part way through the year. A transfer of £13,978 from the inclusion restricted fund to unrestricted funds was made in the year; this represents historic payments made out of unrestricted funds to meet inclusion needs whilst inclusion funding was pending.
In addition to the restricted funds above, the charity have taken the decision to earmark a further £22,000 of unrestricted funds that will be required to cover the additional requirements of SEN and high needs children in the short-term whilst waiting for receipt of Inclusion and EHCP funding.
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