THE CYGNETS MILTON PRE-SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST AUGUST 2021 CONTENTS AND PRE-SCHOOL fNFORMATION CONTENTS PAGE: Trn5tee5 Report Jndepend¢nt ExamineT5 Rewi Statement of Financial Activitie5 Balance Sheet Notes to the Financial Stsrements The following pages do not fonn part of the Statutory Financial Statements: Income and Expenditure Account 10 CHAIR.. Nathaniel Keverne JOhStOn (resigned 1811012021) Liatme Stanford (Vice Chair, now Chair as of1811012021) TRUSTEES.. JeDny Robertson (reslgned 19110f2020) Sue Williams (Treasurer) Sarah Michael (resigned 1811012021) Ltsa Stevens (re$led 1911012020) Hamiah North {appointed 0911 IQ020, resied 1811012021) Emma Howgego (appointed 04,'oir21. resIed 18110ll021) Anta$la Giagkoudi (apwinted 2311112020) Nick Jones (appointrd 28105r2021) SECRETARY.. Leanne Hogg (resigned 19110r2020) Eleanor Ruth Crane (resigned 1811012021) PRtNCIPAL OFFICE.. Humpbrt¢s Way Milton Cambridge CB24 6DL CHARITY WUMBER.. 1155959 INDEPENDEKf EXAMtNER'. lan Shipley FCCA For and on behalf OF Prent15 & Co LLP Chartered Accountants & Independent Examiners 15c Milton Road Cambridge CB4 IXE BANKERS.. Barclays Bank UK PIC I Churchill Place London E14 5HP Cambridge Building Society 51 NewErwk¢t Road Cambridge CB5 8FF
THE CYGNETS MILTON PRE-SCH(K)L PAGE I FtNANCIAL STATEMENTS FOR THE YEAR ENDED 3 IsfAUGUST 2021 TRUSTEES, ANNUAL REPORT The Trustees pr¢sent their aTmual report for The CYets Milion Pre-Sch¢)ol for th¢ year end¢d 3 IX August 2021. The financial statements ¢omply with the Charttics Act 2011 and A¢couTrting and Reporting by Charities.. Ststement of Recornmended Practice applicable to chariti¢5 preparing their aGcounts in arxordance with the Financial Reporting Standard applicable in the UK and Republic of Irelalld IFRS102) (¢ffective 1° January 2019). as modified by the exemptions for small ¢harities provided in Update Bulletin l. STKUCTURE, GOVERNANCE AND MANAGEMENT The ciwity is wnstiÈuted as aclwitable Incorwated OrganisatioTh, incotwjrdted in 2014 underastandard membership CIO {de¢d). Th¢ Cygnets Milton Pre-school (Cygnets) ts a registered charity, and so requires Volunteer Trustees to form a management ommitte¢. The committce is the 'registcred person, for Ofsted. in other words. the comtnittee has had to apply to Ofsted to open this Pr¢-School. A$ such. the committ¢e is ui(imately responsible for the children's. staffs, Ènd visitors, heal safety and welfare, as well &5 the managemcnl of stsff finances, amongst other things. It is a big responsibility, but the cornrnitt¢e Iries to make it enjoyablq and enjoy a)ntributtng time throughout the year and at fund-raising events for Cygnets. It is agreai wayof being involv¢d in the cotTrtnunity. Sadly, several committeemembershave st¢pped dowTr] recently but ther¢ are new members that are cutTently th¢ process ofjoining the existing comnittee and the eommittee hopes that there will be more joining later this year ORGANISATION AND APPOINTM OF TRUSTEES The committed and experienced workforce consists of a Manager, Depury Manager. Rthim Lead¢rs. an Office Manager and other room staff. all of whom ensure the smooth tumiing of the setting. New Trustees are appointed by the existing wmmittee members. KISK MANAGEMENT The management cotDmittee is responsible foroverseeing ofrisks fa¢¢d byCy8nets. Risks Identifie assessed and controls ar¢ esiablished continually throughout the year. The managerneni COTllmittee believes that thi5 approac14 which closely monitors the operation5, staffing and r]nances of the Pre-school will Mitig the s]1fi1tr1skS andthat maintaining financia] reserves will provide sufficient resources in the eveni of adv¢rs¢ conditions. The safety ofthe children who att¢nd the setting is paramountand sufficient safeguarding metsuresand insurallee i5 place io ensure this. ACTIVITIES AND OBJECTIVES Starring and Children The committee is very fortunate to have such a con]mitted alld ¢xperienced workforce at Cygnets. Thi5 allows us to provide ontinuity and a high standard of car¢ for the children. Due to the positive reputation ofth¢ settingwithin the community, demand forplaces in the setting has coTr(inuedto rise over the past year. We r¢cognise the colnplex juggling att thatthe management leam compleÉe5 every half termto acwtllmiKlate as any children as they can all while mosteffectively matrhiTrg th¢ m)Tiad of stsff]ngc(Trmbinations. hours and rooms. Increased stsff and children numbers continue to put pressure on th¢ physical spaces within in the setting. This impacts the children and staff in many ways artd given the curent buildillg s¢wp. there is no ¢asy soluiion (o remedy that pressure. This issue is continuously being Considered and a solution will hopefitlly be found in the near fvture. Fundraising The Nursery Education Fundtng received Via Cambridge County Council doesnot fully cover costs. As aresult fees charged for extra sessions and s¢ssions forchildren not qualifying for plus addiiional fidraiSing¢ventsare neededto Tnaintain r¢50ur¢es. trdin staff and meet facility nmning Costs. Unfortunately it not been w)ssible to hold th¢ biggest fundraiser, the Annual Easter Fayre. forthe last couple ofyears due to thepandemic bui other fillxdraising initiatives were put into place. The committee would ljke to thank everyone who has held at all of the Vario events.
THE CYGNETS MILTON PRE-SCHOOL PAGE 2 FINANCIAL STATEMEwfs FOR THE YEAR ENDED 3 IS7 AUGUST 2021 TRUSTEES. ANNUAL REPORT......................¢oniinued ACHIEVEMENTS AND PERFORMANCE D¢spite the impact ofthe global pandemic durtngthe last two years the setttng b&s beert fortunate because the Cambridgeshi County Council early yeats team have 5UPPOrted the settÈng by providing advice and maintaining the Nursery Education Funding, ev¢n when not all children were ableto attend. The Pre-school's I{M]gStInggoQdrnanag¢M¢nt pra¢tic¢meansthat there ar¢ cash re5crves and Cygnets is in a strong position financially. PUBLIC BENEFIT The charity works for th¢ public b¢n¢fit by having 18 its objectives. the developtnent and edu¢ation of children and young people and is deTnonstrated by.. l) Prornoting their care and safety. 2) Promoting their education and prornoting parentsl inYolvem¢nl. 3) PromotlDg their health and wellbeing. 4) Providing services to support them and their families and carer5. 51 Providing services to individua15 holding membership of the Charitable Incorpordted Orwisation. 6) Furthering the aims of the Early Year5 Alliance. FINANCIAL REVIEW AND RESERVES The fancial r¢sults for th¢ year ended 31° Aug8¢ 2021 show a deficit of £9.946. Last year the charity made a surplus of £935. Incom¢ continue5 to remain steady £172,773 (2020: £170,891) and expenditure has increased to £182,719 (2020.. £169,956). D¢spite the Unpredenled circumslances experienced forthe second yearru[1ll& Cygnets overachi¢ved thebudget setatthe beginning of the year and the overall deficit was not as high as originally planned. The setting's largest Cost relates to staff salaries and this increa%ed from lasi by approximately £1 IK whirh was due to an increas¢ in pay implemented in April 2021 as well as an in¢re4se in stsffing numbers. some of whi¢h wa5 requtr¢d to cover stafymetnbers who needed to self isolate. Children related costs remained in line with the previous year. however. facilty and office costs showed an illCTease of £2k. Thi5 wa5 partly du¢ to a rise tn m¢mbeTships and subscriptions. which required forremote parent consultations w¢ll as a general annual price in¢rease and cl¢aning costs w¢re also higber due to the continued InCred activity within this area All other costs remained broadly in line with the previous year.
THE CYGNETS MILTON PRE-SCHOOL PAGE 3 FINANCIAL STATEMENfs FOR THE YEAR ENDED 31- AUGUST 2021 TRUSTEES, ANNUAL REPORT......................coA¢inu¢d STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees are required by charity law to prepare fiThancial statements for each year which give a tsue and fair view of the state of affairs of the charity and of the Surplus or deficit of the charity forthat year. In preparillg those fu)an¢ial statements. the TrUseS are required to: {&) Select suitable accounting policies and then apply them consistenily. Ib) Make judg¢rn¢nts and estimates that ar¢ reasonable and prudenL (c) Prepare the fancial statrments on a going concern b&sL5 unless it is inappropriate to presume that the chariry will continue in operation. (d) State wh¢ther the policies adopted are in accordance with the ChitieS Aci 2011 and with applicable accounting standards and Statrrn¢nts of Recon)mended Practic¢, subject any nrial d¢parture and explained in the r]nancial stat¢m¢nts. (e) Observe the methods and principals of the Chariti¢s Stht¢meni of ReCOend¢d Practice. The Ttee$ are responsible for keeping proper records which disclose with reasonable accuracy at any time the fll)ancial position of the Charity atEd to ¢nsure that the financial Statements Comply with the Chariti¢s Acl. The Trusiees confjrn) they hav¢ referred to the guidance Contain in the Charity Commission's gen¢rnl guidance on public benefit when reviewing the chariry's aitn5 and obje¢tives and in planning future activities. ON BEHALF OF THE TRUSTEES LIANNE STANFORD Chair 21. Z>iL Da
THE CYGNETS MILTON PRE-SCHOOL PAGE 4 FINANCIAL STATEMENfs FOR THE YEAR ENDED 3 1ST AUGUST 2021 tNDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CYGNETS MILTON PRE-SCHOOL I report to the truste¢s on my exatnination of th¢ accounts of the CygDets Milton Pre-schijol Charitable Incotpornled Organisation (the 'CIO) for the year ended 31st August 2021. RESPONSIBILITES AND BASIS OF REPORT As the trnstees of the CIO you are responsible for the preparation of the accounts tn accordance with the requirement5 of the Charities Act 2011 1.the Act"). I report in respect of my examination of the CIO'S accounts carried under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable DiTeciion5 given by the Charity Commission under 5¢¢1ion 145(5Xb) of the Aci. INDEPENDENT EXAMINER'S STATEMENT I have ¢ompleted tny ¢xamination. I confirm no material matters have cotne my atiention in comie£tion with the examination giving me ¢ause to beli¢ve that in any Mat¢r1 reSpti l. accounting records were not k¢pt in respe¢1 of the charity as required by section 130 of the Act. or 2. the accounts do not accord with thos¢ cOrds. or 3. the accounts do not comply with the applicable requir¢ments concerning the forrn and contents of accounts set out in the Charities (Accounts and Reports) Regulation5 2008 other than any requirement that the atcouThts give a 'tru¢ and fair vi¢w' which 15 Ilot a matter considered as part of an independent exatnination. I have no concerns and have come across no other matters in comieclion with the examination to which attentton should be drawn in this report in order to ¢nable a proper understanding of the accounts to be reach¢d. tAN SHIPLEY FCCA FOR AND ON BEHALF OF: PRENTIS & CO LLP CHARTERED ACCOUNTANTS & tNDEPENDENT EXAMtNERS q reb1), 1022 115t MiltOfE Road Cambridge CB4 IXE
THE CYGNETS MILTON PRE-SCHOOL PAGE 5 FfNANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST AUGUST 2021 sTATEmEr OF FINANCIAL ACTIVITIES Totsl Total Unr¢5tricted Unrestricted 2021 2020 Noies tNCOME Charitable activities.. FeeslFunding Investment income Other 170679 202 1892 168990 378 1523 TOTAL fNCOME 172773 170891 EXPENDITURE Fundraising Charitabl¢ activitie5 27 169929 182719 TOTAL EXPENDITURE 182719 169956 NET (EXPENDITUREytNCOME FOR THE YEAR (9946) 935 RECONCILIATION OF FUNDS Total nd balan¢e brought forward Total balance carried forward 79445 78510 69499 79445 The Statement of FiThan¢ial Activities includes all gains and losses rttognised in the year. All income and expenditure dertve from continuing activiiies. The notes on pages 7 to 9 fornj part of these financia] 5tatem¢nts.
THE CYGNETS MILTON PRE-SCH(K)L PAGE 6 FfNANCIAL STATEMEKtS FOR THE YEAR ENDED 3 1ST AUGUST 2021 BALANCE SHEET 2021 2020 Notes FIXED ASSETS Tangible &ss¢ts 7843 CURRENT ASSETS Prepaynents Cash at bank and in hand 1933 63223 81527 TOTAL CURRENT ASSETS 65156 82658 LIABILITIES Creditors.. Amounts falling due within one year 35) 3213 NET CURRENT ASSETS 61656 79445 TOTAL NET ASSETS 69499 79445 THE FUNDS OF THE CHAiUTY Unrestricted cOMe funds 69499 79445 TOTAL CHARITY FUNDS 69499 79445 The fmatkcial ststements were appToved by the Tntstees on 17 knKJ3 X)22 LIANNE STANFO Chair The notes on pag¢s 7 to 9 forni part of these financial statements.
THE CYGNETS MILTON PRE.SCHOOL PAGE 7 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2021 NOTES TO THE FtNANCIAL STATEMENTS ACCOUNTING POLICIES (a) BASIS OF PREPARATION OF FtNANCIAL STATEMENTS The fu]¢1a1 statements have been prepared under the historical c05t convention with items reco]sed at cost or transaction value unle55 otherwise srated in th¢ r¢levanc notes to these fanCial statements. The fjnancial statements have been pr¢pared in accordance with the 8tatement of Recommended Practice.. Accounting and Reporting by Charities preparing their atcowits in accordance the Flliancial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102} issued on 1st January 2019 and the Financial Reporting Standatd applicable in the United Kingdom and Republic of Ireland {FRS 102) and the Charities Act 2011. The Tn]stees Consider tbere pre no mat¢rial uncenainti¢5 thjut the Pre-school's ability to continue as a going ¢on¢ern. (bl STATEMENT OF CASH FLOWS Th¢ Trustees have opt¢d to take advanlage of the amendment to Charities SORP FRS 102, where only larger chariti¢s are required io prepare a Ststrment of C&sh Flow. (¢) fNCOME Income represents the amount derived from the charitys ordinary activities. Income is recognised in the period in which the ctwity i5 entitled to receipt and the amount can be measured with r¢asonable certainty. No income is stat¢d net of any oCIated expendiftwe. (d) EXPENDITURE All expenditure is accounted for on an arCnlS basis. Charitable ¢xpcndiwTe comprises those costs incurred by the charity in the delivery of its activities and service5 to beneficiaries. Governance costs include costs aO¢lated with meeting the constituttonal and 51atutory reqUire¢ts of the charity and are part of the charÈtys activities. Expenditure is allocated to expense headtngs on a direa cosi b&%15. (e) TANGIBLE FIXED ASSETS Tangible assets ar¢ stated ai cost les5 depreciation. Depreciation is provided all tangible red &85ets at rates calculated to TIte-off the costs less ¢stiTnated residual value of each al evenly over their expected u5¢ful lives as follows-. Fixtures and Fillings - 25Yo straigbi line Th¢ TNstees have adopted a wlicy only items in excess of £IOOO ar¢ lo be capitalised. INCOME FROM OTHERS Total Total Unrestricted Unr¢stricted 2021 2020 PhOtOaph cotllrni5sion Sponsored Walk Easy Fundraising Easier Fayre income Christtnas hamper Children's unifomi sales School outing collections Other fiJndr2ising 47 1221 16 50 268 47 10 94 589 390 75 416 160 32 1892 1523 EXPENDITURE ON FlrNDRAISG Total Total Uwestricted Unrestricted 2021 2020 Easter Fae 27
THE CYGNETS MILTON PRE-SCHOOL PAGE 8 FNANCIAL STA'fEMENTS FOR THE YEAR ENDED 3 1ST AUGUST 2021 NOTES TO THE FINANCIAL STA TEMENTS EXPENDITURE ON CHARITABLE ACTIVITIES Tots] Total UDrestrict¢d Unrestricted 2021 2020 Staff costs (note 5) Trdining costs Other staff costs Payroll service Materials and activity supplies New equipment, Books. Toys EYPP expenditure Milk and snacks Deprivation Rent Utility ¢05ts Waste disposal Cleanftng costs Repairs ond mainteDaDce Other school running costs Photocopyin& stationery and postsge Telephone and internet Insurance and registration fees Accountancy School outing Sports day Unifonn Bank charg¢5 Committ¢¢ expenses Eniertainment costs Depreciation of fixtur¢s and fittings 153588 1615 17 1400 1723 4282 1444 23 24 999 1440 358 4972 2075 2546 2286 142991 119 1432 1754 4518 815 19 26 1020 1238 1033 4405 2510 1018 1644 178 431 960 919 174 242 207 132 763 1199 960 68 142 540 233 49 102 523 182719 169929 STAFF COSTS No r¢mwieration was paid to any of the Tntstees in the year, nor were any expenses reimbursed to them. 2021 2020 Salaries and wages Employers peIlort 150054 3534 139933 3058 153588 142991 The average nwnb¢r of employees during the year was 14 (2020: 13). No member of staff earned more than £60.OCM). The key management personnel of the chariry comprise the Board of Tnjstees who give thehr tirne freely.
THE CYGNETS MILTON PRE-SCH(Y)L PAGE 9 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2021 NOTES TO THE FINANCIAL STATEMENrs TANGIBLE FIXED ASSETS CURRENT YEAR Fixtures and Fittillgs COST Additions 8366 Balance at 315t August 2021 DEPRECIATION Charge for th¢ year Balan¢e at 3 1st Augu 2021 NET BOOK VALUE AT 3 1ST AUGUST 2021 8366 523 523 7843 DEBTORS AND PREPAYENTs 2021 2020 Prepaym¢nts 1933 CREDITORS 2021 2020 Trdde creditor5 TatiOn and social security Accn[S 1203 1337 960 790 963 1460 3500 3213 ACCUMULATED FLWDS Year ended 3 1st Augusr 2021 Balance at 1st September 2020 Balance at 3 Isi August 2021 Income Expenditure Unrestricted funds 79445 172773 182719 69499 ACCUMULATED FUNDS Year ended 315t August 2020 Balance at 1st Seprember 2019 Balance at 3 1st August 2020 Income Expenditure Ullrestricted fimds 78510 170891 169956 79445