THE CYGNETS MIL TON PRE-SCFIOOL FINANCIAL STATEMENTS FOR THE4 YE,AR F.NDED 3 1ST AIJGUST 2024 CONTENTS AND PRE-SCIIOOL INFORMATION CONTE.NTS PAGE.. Trustees Report Independent Examiners Report Statement. of Financial Activities Bal&nLe Sheet Noles to the financial Statements Tbe following pages do not forni pait of the Staiulory Itinancial Statoments.. Income and Expendilure A¢count CHA. Lianne Sianford TRUS'fEES: Sue Willi8 (Treasurer) Nick Jones Siinoii Bradley Sonali Saccaram l.ianne Slanford Nicola Boak (resigned 17110123) 7oe Patlisoii Fion¢l Pollard SECRETARY: Simon Bradley PRINCIPAL OFFICE,. 14umpliries Way Milton Cambridge CB24 6DI., C14ARI'I'Y NUMBER.. 1155959 COMPANY NUMBER., CE000997 INDEPEIqDENf EXAMINER: Ian Shiploy FCCA Foi and on behalf of: Prentis & C() LLP Chartered Accowitanls Independent Examiners 115¢ Milton Road Cambridg CB4 IXE BANICERS: Barc1¥4yS Bai)Ic UIC PIG I Cliurcliill Place London E14 5HP Cambridge Building Suciely 51 Newmarl<ct Road Cambridge CB5 8Fr
THE CYGNETS MILTON PRE-SCHOOL PAGE I F]NANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST AUGUST 2024 TRUSTEES, ANNUAL REPORT The Thjstees present their aDllual report for The Cygnets Milton Pre-school for the year Cnthd 3181 August 2024. The fancial ststernents comply with tho Charities Act 2011 and Accounting and Reporting by Charities: Staten]ent of Recommended Practice applicable to chaTiti¢s preping their accounts in accordance with the Financial Reporting Stalldd applicable in the UK and R¢public of Ireland (FRS102) (effective 1° January 2019), as modified by th¢ exemptions for small charities provided in Update Bulletin l. STRUCTURE, GOVERNANCE AND MANAGEMENT The charity Is constituted as a Charitable Incorporated Organisation, Incoryrated in 2014 under a standard membershjp CIO (deed). The Cygnets Mikon Pre-Sch(M)l (Cygnet8) is a registered charity, and so requires volunteer Trustees to fomi a management committee. The committee is the 'r¢gistered person, for Ofste(L' in other words, the committee has had to apply to Ofsted to open this Pre-school. As such, tho Committee is ultimately responsil)le for the children's, staffs, and visitors, health, safety alld Welf¢, as well as the managemellt of staff and finances. amongst other things. It is a big resw)nsibility, but the conmnittee tries to make it enjoyable, and enjoy contributing time throughout the year and at fund-raisillg events for Cygnets. It is a greatway ofbeing involved in the Community. We have mailltailled our conllnittee members this year and there are new members that are currently in thg process of joining the existing comnllttee. This makes for a goodnumbgr so that each Cornmittee member can have a portfolio ofresponwThility that is not too overwhehning. ORGANISAJION AND APPOINTMENT OF TRUSTEES The CA)mmittea and gxperienced workforce consists of a Manager, Deputy Manager, Room LeadeTh, an Office Manager and other room staff, all of whom ensure the smooth ninning of the sctting. New Trustees are appoillt by the existing committee members. IUSK MANAGEMENT Thc manag¢ment committee is responsible for overseeing of risks faGed by Cyets. Risks are identified, assessed and ontrols ar¢ estabLished continually throughout the year. The manag¢ment committee believes that thi8 approach, which closgly monitors the operations, staffmg and fU]CeS of the Pre-school will mitigate the significant risks and that maintaining fmpncial reserves will provide sufficient resources in the event of adverse conditions. The safety of th¢ children who attend the setting is paTamount and sufficient safeguarding m¢asures and insurance is in plare to ensure this. ACTIVITIES AND OBJECTIVES Staffing and Chjldren The committee is very fortLmate to have sllch a committed and experien¢¢d workforce at Cygnets. This allows us to provide ontinuity and a high standard of care for the children. Due to the positive reputation of the setting within the cornmunity, demand for places in the setting has platsaued oveT the past year. Once this was recognised, the management te8rn and senior trustees worked to see where gaps have occurreLL We recognise the complex juggling act that the management team completes every half tern] to accon]modate as mpny hildren as they can all while most effectively matching the myriad of stafFmg combinations, hours and rooms. The numbers of Ghilthen alld staff continue to put pressure on the physical spa¢es within the setting. This issue is continuously being onsidered and a solution will hopefvlly be found in the near future. We have expanded the conllnittee with members who havc specialist knowledg¢ in the hopes that we can eff¢ctiv¢ly evaluate the space and its use and work towards making positive thanges for the future. FulldralsiDE The Nursery Education Fundingreceived via Cambridge County Council does not lty cover costs. As aresultfees charged for extra sessions and s¢ssions foi childrgn not qualifying for funding, plus additional fundraising events are needed to maintain resources, train staff and meet farility running costs, This additional funding was hIeVed by sponsored events organised throughout the year. The committee would like to thank everyone who supported the variou5 events. The committee now has a fundraising portfolio so that we can apply for suitable external funding schemes.
TFIE CYGNETS MILTON PRE-SCI-IOOL PAGE 2 FINANCIAL STATEMEN'fS FOR THE YEAR ENDED 31 SI" AUGUST 2024 TRUSTEES, ANNUAL RLPORT . .continLied ACHIEVEMLNTS AND PERFORMANCE The settiiig has liad a challeiiging year, largely doe to a continued inGr¢asc ii) ¢osl's and a dcci'easc iii thc iiuinb¢i- of cliildi'cn in attendance, Tlic action of Ihe nianageinent team throughout die year ineant that by tlic end of tlie suinmei- term, nuiiibei'5 of cliildren had beeii restorcd and the financial forecast impi'oved. The continued suppoit from Cainbridgcshiro County Council early years team has assisted tlie sel'l'ing by providing advice and contiiiues to maiiilain the Nurscry Education Fundiiig 8rants. Ile Pre-scliool's longsiaiiding good maii&gcment' practice Iiag worl<ed to improvc ihc recently depleted Casli i'oservcs and ensured that Cy)ets i'eturned to its sts'ong financial position. PUBI.IC BENEFIT The charity worl<s for the public benefit by liaving as its objectives, th¢ developinent and educatioii of cliildren youiig people and is demonslrated by: l) l)iy)mot)tl8 their care and safcly, 2) Proinoting theii. edueation and promoting parental involvement. 3) Promoling their healtl) and wellbeing. 4) Providkng 5eTvices to suppoil them aiid tlieir families and carers. 5) Providing services to individuals holding membcrship of the Charitable Incorporatcd Organisatioi). 6) Furtliering the aims of die Early Years Alliance. I,-INANCIAL REVIEW AND RESERVES The f51iancial results for the year ended 3151 Au8U5t 2024 show a surplus of £16,767 (2023.. deficit £19,589), Income ha5 increased to £215,650 (2023.. £198,205) and expenditurc has decreascd to £198,883 (2023 £217,794). Despik tlie unprecedented circumslaiices experienced foi. die thii'd year running, Cygnets overachicvcd thc budget set at the beginning of Ilic year and the overall surplus was grcater compwcd to the deficit originally planiicd. The sclting's largest cosl rclates to st'aff salaries and this decieased from last year by approximately £151c. I'his decrei1SC Wds duc to a fall in st&ff numbers, despile a requii'ed pay riso iniplemented in April 2024. All olher cosls remained broadly in line willi tFLe previous year. STA'fEMFNT OF I'IIUSTEES, RESPONSIBILITIES 'The 'l'i'LisI'ees are i'equired by clitu-kiy law to pi-¢pai'e finai)cial s&1tcmei)ts for cach ycar wliiGh givc a tIe and fail. view of the state of affaiis of the cbariiy a]id of thc Surplus oi. deficit Df the chai'ily for thut year. lii pr¢paring those 'fin<1ncidl stalemenls, Ihe Ti'ustees are requÉred to.. (a) Select suitable accounting policies and Ihell apply thein consisleiitly. (b) Make judgemciits and estim¢ltes iliat are reasonable aiid pi-udeiit. (c) Prepare the fiiiancial statcm¢nts on a going concei'J basis uii5ess il 18 inappi'opriatc to piisuine thal t]Ic Ch'llY will coiitinue in operation. (d) S(dte whether th¢ policies adopted al-e iii accordance wilh thc Charitics Acl 2U I l aiid wil'h applicablc <1ccounting standaLds cind SLal'cincnts of Rccoinmet]d¢d Practice, subject lo any Inatcrial departur¢ and explained iii t11e finaiicial statcmenls. (e) Observe tlie metliods and principals of Lhc Charities Slalemeiit of Rccoinmendcd PractlGC. 'riie Trust¢¢s al'e itspoiisible for keeping propci- L'CCOI-d.s wliicli dis¢Sose with i'¢(01]able <iccuracy at aiiy liine tlie fiiidncial P05iLioii of t]ic cliariiy dnd lo ensure thzkt the fiiiancial stalcmeiits coinply wiLli Ihe Cliarilics Act. The I'rustees coiifirin tliey liav¢ referL'cd to ihe guidaiice coiilaiiied in the CliaTity Coinmission's gonei'al guidance on publiL bcnefil wheii rcvi¢wing tlie cliarlty's aims <wd obj¢clives aiid in plat)ning fuluL¢ activitics. ON BE14ALf oi.- 'i'llE TRUSTEES LIANNf STANfoiiD Chair
THE CYGNETS MILTON PRE-SCHOOL PAGE 3 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024 DEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CYGNETS MILTON PBI-SCHOOL I report to thg trustees on my examination of tho aGcouDts of the Cygnets Milton Pre-sclwol Charitabl¢ lncoryorated Organisation (the 'CIO') for the year ended 3 1st Aijgust 2024. RESPONSIBILtrES AND BASIS OF IiEPORT As the trustees of the CIO you are responsible for the preparation of the accounts in accordance with th¢ requirements of th¢ Charities Act 2011 ("the Act"). I Teport in rcsp¢ct of my examination of the CIO'S accounts carried out under section 145 of the 201 l Act and in carying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. IDEPENDENT EXAMINER'S STATEMBNT I have compl¢ted my examination. I ronfirrn that no material matters have come to my attention in connection with the examination giving me Cause to believe that in any material respect., I, accounting COrdS were not kept in respect of the charity as required by sectiori 130 of the Act. or 2. the accounts do not accord with those records. or 3, the accounts do not cornply with the applicable requirements conccming the form and contents of accouDt8 5eA out in the ChaTiti¢s (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair vAew' which is not a matter considered as part of all independent examination, I have no concerns and have come across no other matters in GODnection with the examination to which attention Should be dtawn in this report in order to enable a proper understanding of the accounts to be reached. IAN SHIPLEY FCCA FOR AND ON BEHALF OF: PRENfis & CO LLP CHARTERED ACCOUNTANTS & INDEPENDENT EXAMINERS 2oZS. 115c Milton Road Cambridge CB4 IXE
THE CYGNETS MtLTON PRE-SCHOOL PAGE 4 FINANCIAL STATEMENTS FOR THE YEAR ETrED 3 1ST AUGUST 2024 STATEMENf OF FINANCIAL ACTfvITIES Total Totsl Unrestricted Unrestiictsd 2024 2023 Notes lllCOME Charitable activities.. FeeslFunding lnveslment income 211,352 I,177 3,121 215,650 193,881 350 3,974 198,205 TOTAL INCOME EXPENDITURE chAtble activities 198,883 217,794 217,794 TOTAL EXPENDITURE 198,883 NET INCOME/(EXPENDITURE) FOR THE YEAR 16,767 (19.589) RECONCILIATION OF FUNDS Total fund balance brought forward Total fund balance carried forw 48,301 65,068 67,890 48,301 The Statement of Financial Activities includes all gains and losses recognised in tho year, All income and expenditure derive from continuing activities. The notes on pages 6 to 8 fonn part of these financial statements.
THE CYGNETS MILTON PRE-SCHOOL PAGE 5 FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST AUGUST 2024 BALANCE SHEET 2024 2023 Notes FIXED ASSETS Tangible assets 2,408 4,815 CURRENT ASSETS Prepayments Cash at bank and in hand 2,452 102,629 105,081 2,429 63,527 65,956 TOTAL CUBJiENT ASSETS LIABILITIES Creditors: Amounts falling due within one year 42,421 22,470 NET CURRENT ASSETS 62,660 65,068 43,486 TOTAL NET ASSETS 48,301 TH8 FUNDS OF THE CHARITY Unrestricted incorne fill]ds 65,068 48,301 48,301 TOTAL CHARITY FUNDS 65,068 The financial statements were approved by the TTUStees on zs AfwJ 2015. LJANNE STANFORD Chair The Dotes on pages 6 to 8 fonn part of these financial statements.
THE CYGNETS MILTON PBE-SCHOOL PAGE 6 FINANCIAL STATEMENTS FOR THE YEAR ENDED S I ST AUGUST 2024 NOTES TO THB FINANCL4L STATEMENTS ACCOUNTING POLICIES (a) BASIS OF PREPARATION OF FINANCIAL STATEMBTrrrs The th)ancial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these fll]ancial stafrments. The fLnancial statsments have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their account8 in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) issued on I st January 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The Thistees consider there are no nmterial uncertainties about the Pre-school's ability to continue as a going Qoncern. (b) STATEMENT OF CASH FLOWS The Tnjstees have opted to take advantage of the amendment to Charities SORP FRS 102, where only larger clwities requir¢d to prepare a Statsjnent of Casb Flow. (c) INCOME tncome represents the amount derived from the charitys ordinary activities. Income is recogni8ed in the period in which the charity is entitled to receipt and the amount can be measured with roasonable certainty. No income is stated net of any associated expenditure. (d) EXPENDITURE All cxpenditure Ès accountsd for on an accruals basis. Charitable expenditure comprises those costs incUed by the charity in the delivery of its activities and services to beneficiaries. Governance costs include costs associated with meeting the Gonstitstional and statutory Tequirements of tbe charity and are part of the chaTity'S activities. Expenditure is allocated to exponse headings on a dwect cost basis. (e) TANGIBLE FIXED ASSETS TangEI)le assets are stated Rt cost less depreciation. Depreciation is provided on all tangible fjxed assets at Tatos lCUlated to write-off the wsts l¢ss estimated Tesidual value of each asset evenly over their expected useful lives as follows: Fixture5 and Fittings - 25¥0 straight line The Trustee8 have adopted a policy that only items in excess of £IOOO are to be capitalised. INCOME FROM OTHERS Total Total Unrostricted Unrestricted 2024 2023 Photogrdph conunission Sponsored Walk Easy Fundraising Chrislmas hamper Chilthen's uniforni sales School outing Gollections Easter Fayre Other fundraising Gift Aid Sunlln¢r Fa¢ 44 I,oio 16 120 919 32 42 510 325 1,329 697 147 296 511 113 984 3,121 3,974
THE CYGNETS MILTON PRE-SCHOOL PAGE 7 FINANCIAL STATEMENfs FOR THE YE1 ENDED 31 ST AUGUST 2024 NOTES TO THE FINANCIAL STATEMENrs EXPENDITURE ON CHARITABLE ACTIVITIES Total Total Unr¢strithd Unrestricted 2024 2023 StafF¢osts (note 4) Training ¢osts Other staff cosis Payroll service Materials and activity supplies N¢w equipment , Books, Toys EYPP expenditure Summ¢r Fayre expenditure Easter Fayre exp¢nditUTe Milk and snark5 Deprivatioll Rgllt Utility costs Waste disposal Cleaning costs RepaiTh and maintsnanGe Other school rLllming costs Photowpying) Statii)nery and postage IT and website costs Telephone and internet Insurance and registration fees Accountancy School outing Sports day Unifomi Ballk charges Cornrnittee expenses Entertainment costs Depreciation of fiXttes and fittings 173,264 485 133 1,497 1,475 743 471 117 188,004 511 202 1,582 1,039 1,504 1,802 90 53 45 999 2,579 967 4,824 1,343 2,747 1,399 129 322 876 1,260 370 io 15 563 999 2,683 926 4,992 1,947 2,693 1,883 156 618 859 1,050 384 470 262 252 iio 2,407 138 2,407 198,883 217,794 STAFF COSTS No remuneration was paid to any of the Trustees in the year, nor were any expenses reimbursed to then]. 2024 2023 Salaries and wages Employ¢rs pension 169,017 4,247 183,328 4,676 188,004 173,264 The average number of employees during the year was 13 (2023: 16). No ember of staff earned more t1] £60,000. The key manag¢ment personnel of the Gharity comprise the Board of Trustscs who give their time freely.
THE CYGNETS mToN PRB-SCHOOL PAGE FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST AUGUST 2024 NOTES TO THE FINANCIAL STATEMENTS TANGIBLE FtXED ASSETS CURRENT YEAR COST Balance at 1st September 2023 and at 31 August 2024 DEPRECIATION BalallGo at 1st September 2023 Charge for the year Balan¢e at 3 1st August 2024 NET BOOK VALUE AT 31ST AUGUST 2024 Fixtures pnd Fittings 9,629 4,814 2,407 7,221 2,408 TANGIBLE FIXED ASSETS PRIOR YEAR COST Balance at 1st September 2022 and at 31 August 2023 DEPRECIATION Balance at 1st September 2022 Cbarge for the year Balaace at 31 st August 2023 NET BOOK VALUE AT 3 1ST AUGUST 2023 Fixtures Fittings 9.629 2,407 2,407 4,814 4,815 DEB TORS AND PREPAYMENTS 2024 2023 Prepaymgnts 2,452 2,429 CREDITORS 2024 2023 Trade creditors Taxation and social security Accruals 1,277 1,695 39,449 1,169 1,287 20,014 42,421 22,470 ACCUMULATED FUNDS Year eDded 3 1st August 2024 Balance at 1st September 2023 Balance at 31 st August 2024 Income Expendituro Unrestricted funds 48,301 215,650 (198,883) 65,068 ACCUMULATED FUNDS Year ended 3 1st August 2023 Balance at 1st Septsmber 2022 Balance at 3 1st August 2023 Incon]e Expenditure Unrestricted funds 67,890 198,205 (217,794) 48,301