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← Blues Pre-School Nursery

2024-08-31-accounts

Blues Preschool & Nursery Charity Number 1156613 Report and Accounts For the Year Ended 31/08/2024

Blues Preschool & Nursery

Report and Accounts

For the year Ended 31/08/2024

Trustees

K Craythorne (Manager)

G Varnam

R Eves

S Eves

Registered Office

Cox’s Gardens

Bishops Stortford Hertfordshire CM23 3GX

Charity Number

1156613

Independent Examiner

Ascott Blake

11 Ducketts Wharf

Bishops Stortford Hertfordshire CM23 3AR

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Blues Preschool & Nursery

Report and Accounts

For the year Ended 31/08/2024

Contents Trustees Report ....................................................................................................................................... 4 Structure Governance and Management ........................................................................................... 4 Objectives And Activities .................................................................................................................... 4 Public Benefit ...................................................................................................................................... 6 Achievement And Performance .......................................................................................................... 6 Financial Review .................................................................................................................................. 8 Independent Examiners Statement ...................................................................................................... 10 Statement of Financial Activities .......................................................................................................... 11 Balance Sheet ........................................................................................................................................ 12 Notes to the Accounts .......................................................................................................................... 13 Detailed Statement of Financial Activities ............................................................................................ 14

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Blues Preschool & Nursery

Report and Accounts

For the year Ended 31/08/2024

Trustees Report

The Trustees present their report and accounts for the period ended 31/08/2024

Structure Governance and Management

The charity is registered as a CIO and our constitution is based on the Pre-school Learning Alliance Model CIO Constitution for Childcare Providers 2013.

Membership of the CIO is open to all Parents/Carers of pre-school children but they are not automatically Members of the Charity. Parents/Carers sign a declaration if they wish to join. Affiliate membership is also open to anyone interested in furthering the purposes of the charity. The Trustees (min 3, max 12) are all Members of the Charity. Their function is to manage the affairs of the CIO and meet monthly to fulfil this function. They are appointed at the AGM and serve for 2 successive years. Every year one-third of the trustees shall retire from office but can be re-appointed for 5 successive terms. After a break of one year, the trustee may re-stand.

As of the end of August 2024, there were 4 trustees at Blues. This includes one staff member, the General Manager. The 4 trustees, along with 3 other staff members form the Management committee which oversees all business aspects of the CIO.

Objectives And Activities

The Pre-school aims to enhance the development and education of children primarily under statutory school age and to encourage parents to understand and provide for the needs of their children by:

The Preschool is open for 10 sessions (5 mornings and 5 afternoons) a week. The Pre-school can cater for up to 24 children in the morning and 16 children in the afternoon session.

The Blues offers the 15-hour Government-funded entitlement to 3 and 4-year-olds and the 'additional entitlement' of a further 15 hours to eligible children. We offer flexible attendance with five 3-hour sessions being popular. We have staffed provision for up to 12 children to stay for a full day (6 hours) by providing a lunch club. Families requiring additional hours can pay per session, subject to availability and suitability.

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Blues Preschool & Nursery

Report and Accounts

For the year Ended 31/08/2024

We also offer the 15-hour funded entitlement to eligible two-year-olds who, mainly, attend the afternoon sessions. At the start of the summer term 2024, 41% of all children attending aged 2 years were funded.

Nursery year children who start at Blues form the ‘yellow group’, which gives them a sense of identity; and they can use a small group room to extend their learning approach supported by members of staff.

We receive funding for children eligible for Early Years Pupil Premium (EYPP). This money must be used to further the development of the child which it relates to, and we ensure that all funding is spent while the child is in attendance at Blues.

The Pre-school provides care and education as laid down by Ofsted - Office for Standards and Education - with children working in accordance with the Early Years Foundation Stage curriculum. The pre-school was last inspected in February 2018 by Ofsted and received an "outstanding" rating for 'Personal development, behaviour and welfare' and a "good" rating in all other areas.

Parents/Carers were invited into sessions for face-to-face chats with their child's key person and most Parents/Carers were able to attend. Alternatively, the key person arranged a phone call for a catch-up. This is positively received by our families. Induction visits to look around the setting took place throughout the year.

Tapestry is successfully used across the Pre-school. Observations and photographic evidence are collated using this online learning journal. Evidence is used to moderate the Early Years Foundation Stage. Children’s work is collated in their ‘Special Book’ and each child’s progress is recorded and monitored regularly. This online learning journal is accessible to both Staff and Parents/Carers, and a key aim for the coming year is to ensure more regular journal entries are posted.

Keyworkers were able to meet face-to-face with Parents/Carers to discuss their child’s two-year progress check in the Summer Term. Termly progress reports were sent home and added to Tapestry online journals along with an end-of-year report. Transition data and reports were sent to 12 local schools for our Summer Leavers. The Preschool has a website and a Facebook page which continues to be an invaluable information and communication platform over the year.

The Pre-school is well-known throughout the town and has a good reputation. Many parents travel a considerable distance to Blues because of very positive verbal recommendations.

The Trustee Management Team carried out measures to advertise and raise the profiles of the Blues by displaying flyers/posters in the local shops and supermarkets, putting eye-catching posts on the Blues Facebook page as well as other Facebook sites that Families/Carers would be looking at, and also carrying out a flyer drop in new estates of houses close to the Blues. It is hoped that these measures will increase applications for places for new children. Increasing numbers of requests for full-day sessions were noted and the Management Committee are discussing how to facilitate this, whilst maintaining high standards of education and care. Advice and support were also sought from Hertfordshire County Council Early Years Advisors. This is an ongoing discussion.

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Blues Preschool & Nursery

Report and Accounts

For the year Ended 31/08/2024

In January, the possibility of closing down the ‘Stay and Play’ sessions to open up a tenth session was discussed. The Management Team received a positive response from the staff to open up another session on a Thursday afternoon as we did not generate enough interest from the ‘Stay and Play’ sessions. We found that due to a lack of interest, it was no longer cost-effective to keep the ‘Stay and Play’ sessions open and that we would generate more income from an additional session for the nursery children.

The Pre-school keeps in touch with the Early Years Alliance through its publications and can seek advice from the Head Office when required. Online information such as training courses are offered to all staff and these are an invaluable source of support and upskilling.

Public Benefit

When planning Blues activities for the year, the Committee has considered the Charity Commission’s guidance on public benefit and is satisfied that the pre-school's activities continue to meet the principles laid out in that guidance. This matter was very carefully reviewed as part of the process of applying for CIO status. The children who receive care and education are the main beneficiaries of our charity. We work closely with families, offering support and information regarding the developmental progress of their child and signposting/help with social and financial matters e.g. some families may need to pay fees in instalments.

Achievement And Performance

We have had another exciting year at Blues. Following on from our move into Cox’s Gardens in October 2022, we have continued to have Boyntons attend the nursery to deal with any snagging issues that needed to be done to the building.

At the start of Term and during our first INSET day, all Risk Assessments, and health and safety checks were completed. This also included having our heating, fire equipment and Air Conditioning checked as well as, all equipment PAT tested. Our Policies have also been reviewed. The start of the summer term saw more children start compared to 2022-2023.

Staff appraisals were completed at the beginning of the year and staff supervisions are undertaken regularly.

The Autumn Term included the Walk to Work week in October which encouraged staff to walk to work wherever possible. All staff undertook a Paediatric First Aid Course during the INSET day. We received visits from Herts For Learning Early Years Consultant. These visits focused on the new building and settling in, funding for the 2-year-old children as well as Safe Guarding review and audits.

The children enjoyed a free sports session during the Autumn Term. This led to further sessions being booked for one child using EHCP funding.

We organised some fundraiser events during the Autumn and Winter Terms. These included a sponsored Treasure Hunt, a Family Photography Session and the Christmas Bazaar. The Christmas

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Blues Preschool & Nursery

Report and Accounts

For the year Ended 31/08/2024

Bazaar was put temporarily on hold until we could get more parental help. We raised a total of £2995 for these events.

We continued to have the ‘Stay and Play’ sessions open on Thursdays during the Autumn term. Each week saw the number of families attending fluctuate. It was at this time that we considered closing down the ‘Stay and Play’, to add an afternoon session on Thursdays. No decision was made at this time.

During December we opened the nursery to parents/carers for our Nativity play. This included one morning session and an afternoon session on an alternative day. We ended the term with a Christmas Party that was enjoyed by the children and staff.

In January, further discussions were held in regards to holding an additional session open in place of the ‘Stay and Play’ session. Again positive responses were received from staff and the Management Team to closing down the ‘Stay and Play’ sessions.

After the February Half Term, we organised another Recycling Clothes collection. We had a great response from this and raised £140. We were also able to obtain some new resources this term including our new playhouse in the garden, Water Wall, and musical instruments as well as donations of bags of sand for the new sand pit. Our Easter Raffle this year raised £165.

Sadly, at the end of the Summer term, we said goodbye to a longstanding staff member who moved on to new ventures. We thanked them for all their hard work and dedication to Blues over the years and wish them well in the future.

In July we held our Summer Fete. Despite the heavy rain, we had a good turnout of parents and children. We had lots of games, prizes and plenty of food on offer. We received a most generous offer from a child’s parents to cover the cost of the bouncy castle which was very appreciated. We raised a total of £440.

Fundraising money is a vital part of our funding stream for the general running of the preschool. The rise in the cost of living has adversely affected the budget.

Staff used the summer term INSET days to write end-of-year reports for all children attending the Blues. Transition reports for children moving on to school nursery or reception classes were also prepared. The SENCO oversaw and collated all reports and information required by families of children with SEND who were moving to new settings. This is a huge piece of work, with some documents requiring extensive information from Blues and other professionals, in addition to meeting with teachers and professionals for these children to ensure a smooth transition into their next settings. Many thanks to Christine for carrying out this task so competently and supporting all staff.

The last week of term saw us saying goodbye to another group of children, graduating to start reception in September but also goodbye to Christine our deputy and SENCO. Christine helped to do a handover with our new deputy Jorden to take over in September.

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Blues Preschool & Nursery

Report and Accounts

For the year Ended 31/08/2024

The Blues remained fully staffed over the year will all staff members being appropriately qualified and experienced. Annabelle has now completed her apprenticeship and is now a fully qualified Early Years Practitioner. We also took on Neve as additional bank staff.

The Staff Appraisal System is in place and meetings were held with each member each term.

Staff are required to carry out certain specific core training but can also access online training courses to support their individual professional development via the Early Years Alliance website, NoodleNow, and Herts for Learning. Staff and Trustees also have been able to access guidance and support for updating policies. The Manager and Deputy had access to visits from an HCC Early Years Consultant which were very useful.

Regular communication is sent to Parents/Carers to keep them informed of any changes at the preschool, as well as updates and newsletters being posted on the website, via our Facebook page and Eschooly.

The policies of the preschool are being regularly updated on a rolling basis or according to need. Monthly Management meetings are used to discuss and/or ratify those being updated. The Admissions policy and Disciplinary policies have been completed.

The Trustees would like to thank all staff for their willingness to volunteer to help with unexpected moves and for their help in making the new building such a wonderful environment for children’s learning, development and play. The Trustees very much appreciate all their hard work.

Once again, we find the need to actively seek several new Trustees. It has become increasingly harder to find adults who are willing to volunteer and give their time to support the preschool. We have two possible interested parties who may be joining us in the new year. However, we would be very interested to hear from anyone who has experience in Management or HR.

Financial Review

Overall, this year the Charity made a net loss for the fourth year in a row. This was of £11,410 compared to £37,292 (net loss 2023) and £27,491 and £4,804 for the years prior to this. Fortunately, the loss is smaller than the previous two years. Efforts to increase income such as introducing the Thursday afternoon session have helped and more initiatives are being rolled going forward.

Child numbers have steadily risen over the year and combined with the government expansion to childcare funding (to include 2-year-old working families from April 2024), Blues has seen its income grow this year by over £43K (on 2023), a rise of 45%. Increased EYPP funding and SEN funding (specific to children) has also contributed to Blues increased income. Funding income provided 85% of Blues overall income, compared to 77% last year.

On the other side, expenditure has also increased significantly. Staff costs have increased by 18% this year. The government increases to national minimum living wage in April 2024 (9.8% increase

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Blues Preschool & Nursery

Report and Accounts

For the year Ended 31/08/2024

applied to majority of staff wages) impacted this. Blues also saw a greater number of staff required in the Summer term (due to staff shortages, and higher intake of children) which resulted in additional overtime / holiday pay. The added pressure on staff must also be noted.

This year, Blues has seen the full financial year building maintenance costs, which included garden maintenance, and general repairs and item replacement. New items were purchased for the outdoor area in Spring / Summer. Great efforts have been put into fundraising this year, and coupled with the generosity of our pre-school families, the fundraising income tripled on last year.

Blues also paid for some professional HR consultancy to review our staff contracts in light of onboarding new staff and aligning everyone to the same contract terms.

Reserves:

The charity ordinarily aims to put aside 10% for the contingency/sinking fund each year but for the fourth year running Blues has not made any profit in order to action this. Reserves have remained steady at £110K with £86K of that in cash.

The charity aims to keep its general reserves at a level equivalent to 3-6 months of running costs. As Blues expenditure increases, the running costs have also risen to around £70K (for 6 months). Therefore, our reserves currently cover this requirement, but further annual net losses will continue to see this position weakened. The Trustee Management Committee continue to identify new possibilities to generate income, and we are hopeful that new trustees can contribute towards this and reverse the trend.

This report was approved and authorised for issue by the Trustees on 5[th] November 2024 and signed on its behalf by:

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Sophie Eves

Trustee

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Blues Preschool & Nursery

Report and Accounts

For the year Ended 31/08/2024

Independent Examiners Statement

Page 10 of 17

Blues Preschool & Nursery

Report and Accounts

For the year Ended 31/08/2024

Statement of Financial Activities

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31/08/2024

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|||||| |---|---|---|---|---| |2023|2023| |Unrestricted| |funds|Restricted funds|Total|Total| |£|£|£|£| |Income| |Donations, funding and legacies|135,541|-|135,541|93,824| |Income from investments|3,739|-|3,739|2,116| |Total income and endowments|139,280|-|139,280|95,940| |Expenses| |Costs of generating funds| |Expenditure on raised funds|9,945|-|9,945|7,411| |Expenditure|on|charitable| |activities|139,291|1,454|141,195|121,081| |Expenditure relating to move to| |new premises|-|-|-|4,740| |Total Expenses|149,236|1,454|151,140|133,232| |Net gains on investments| |23| |Net income|(9,956)|(1,454)|(11,410)|(37,292)| |Gains/(losses) on revaluation of| |fixed assets| |Net movement in funds:| |Net income for the year|(9,956)|(1,454)|(11,410)|(37,292)| |Total funds brought forward|119,868|1,454|121,322|158,615| |Net funds carried forward|109,912|-|109,912|121,323|

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This 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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Blues Preschool & Nursery

Report and Accounts

For the year Ended 31/08/2024

Balance Sheet

Balance Sheet
BALANCE SHEET AT 31/08/2024
2024 2023
£ £
FIXED ASSETS
Note
Tangible fixed assets
2		 25,199 26,477
CURRENT ASSETS
Other debtors
3		 1,015 0
Cash at bank and in hand 86,293 97,063
87,308 97,063
CREDITORS: Amounts falling due within
one year
4		 2,596 2,219 2,219
NET CURRENT ASSETS 84,712 84,712 94,844
TOTAL ASSETS LESS CURRENT LIABILITIES 109,912 121,322 121,322

CAPITAL AND RESERVES
Unrestricted funds
General fund 1,595 11,551
General fund – prior year adjustment
Designated funds 108,316 108,316
Restricted funds
Restricted fund 0 1,454
109,912 121,322

For the year ending 31/08/2024 the CIO was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

Approved by the board of trustees on 5[th] November 2024 and signed on their behalf by . …………………………………...............................................…. Sophie Eves - Trustee

Page 12 of 17

Blues Preschool & Nursery

Report and Accounts

For the year Ended 31/08/2024

Notes to the Accounts

1. ACCOUNTING POLICIES

1a. Basis of Accounting

The accounts have been prepared under the historical cost convention.

The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.

1b. Incoming Resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. 1c. Resources Expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. 1d. Allocation and Apportionment of Costs

All costs relate to the single activity of the charitable company and are recognised accordingly.

1e. Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Designated funds are funds set aside by the trustees out of unrestricted general funds for the specific future purposes or projects.

1f. Depreciation

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures and Fittings straight line 15%

White Goods / Outdoor Shed straight line 20%

ICT equipment straight line 33%

Other plant and machinery straight line 33%

Contribution to development agreement for new building 4% to cover 25 year lease term

1g. Financial Instruments

The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset, and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 13 of 17

Blues Preschool & Nursery

Report and Accounts

For the year Ended 31/08/2024

Detailed Statement of Financial Activities

2. TANGIBLE FIXED ASSETS

Short
leasehold
Properties
Office
Equipment
ICT grant
funded
equipment /
computers
Plant and
machinery
Total
£
£
£
£
Cost

At 01/09/2023

21,874
313
6,135
28,322
Additions

0
176
0
874
1,050
At 31/08/2024

21,874
176 313
7,009
29,372


Depreciation

At 01/09/2023

788
17
1,039
1,844
For the period

860
59 104
1,305
2,328
At 31/08/2024

1,648
59 122
2,344
4,172

Net Book Amounts

At 31/08/2024

20,226
117 191
4,665 25,199
At 31/08/2023

21,086-
296
5,096
26,477


3. DEBTORS
2024
2023
£
£
Prepayments and accrued income
1,015
0
1,015
0

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR		 Short
leasehold
Properties
Office
Equipment
ICT grant
funded
equipment /
computers
Plant and
machinery
Total
£
£
£
£
21,874
313
6,135
28,322
0
176
0
874
1,050		 Short
leasehold
Properties
Office
Equipment
ICT grant
funded
equipment /
computers
Plant and
machinery
Total
£
£
£
£
21,874
313
6,135
28,322
0
176
0
874
1,050
21,874
176 313
7,009
29,372
788
17
1,039
1,844
860
59 104
1,305
2,328
1,648
59 122
2,344
4,172
20,226
117 191
4,665 25,199
21,086-
296
5,096
26,477
2024
2023
£
£
1,015
0
1,015
0
2024 2023
£ £
Taxation and social security 135 677
Pension 255 -
Accounts payable 35 -
Accruals 1,674 1,510
Charge Card - 32

Page 14 of 17

Blues Preschool & Nursery

Report and Accounts

For the year Ended 31/08/2024

Other creditors
 498
-
2,596
2,219

5. LIMITED BY GUARANTEE

The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum not exceeding £0, to the company should it be wound up. At 31/08/2024 there were 4 members.

6. RELATED PARTY TRANSACTIONS

During the year Kim Craythorne, a Trustee of the Blues Pre-School Nursery, received remuneration amounting to £29,334. This related solely to her salaried position as Manager of the pre-school. The role of Trustee is a voluntary one. Employer pension contributions of £693 were made into a defined contribution pension scheme during the year. Kim received no other benefits in the period.

INCOMING RESOURCES
FOR THE YEAR ENDED 31/08/2024

2024
£
Incoming resources
Incoming resources from generated
funds
Grants
Council & Government Funding
118,169
118,169

Donations
Donations & Fundraising
2,995
Thorley Pre-School Closure donation
(restricted)
2,995
Other
Session & Registration Fees
13,939
Toddler Group
268
Other Income
717

14,377
135,541
Investment Income
Deposit account interest
3,739
3,739

3,739
139,280		 2023
£
74,285
74,285
918
3,000
3,918
14,911
467
243
15,621
93,824
2,116
2,116
2,116
95,940		 2023
£
74,285
74,285
918
3,000
3,918
14,911
467
243
15,621
93,824
2,116
2,116
2,116
95,940
14,911
467
243
2,116
93,824

2,116
2,116
95,940

Page 15 of 17

Blues Preschool & Nursery

Report and Accounts

For the year Ended 31/08/2024

EXPENSES FOR THE YEAR EDED 31/08/2024

Expenses
Costs of generating funds
Costs of generating voluntary income
Fundraising costs
Playgroup
supplies (snacks,
cleaning/hygiene, play items, arts & crafts,
other consumables)
EYPP / DAF expenditure items
Equipment rental
Charitable Activities
Rent
Marketing & publicity
Water Rates
Waste removal
Heat & light
Repairs & renewals
General wages
Pension
Training
Staff well-being
Insurance
Stationary, office supplies & printing
Telephone
Subscriptions
Professional Services (HR Consultancy)
Sundry expenses
Depreciation of fixed assets
Expenditure relating to move to new
premises
Governance Costs
Accountancy
Bank charges		 2024
£
397
5,336
3620
593
9,945
9,945
1,214
314
(224)
365
3,233
3,007
120,277
3,734
656
196
815
923
802
1,134
1,308
152
2,328
0
140,235
422
87
509
150,690		 2023
£
447
6,180
Not split out
783
7,411
7,411
1,277
416
331
372
3,169
535
101,967
2,889
1,321
0
1,063
549
1,338
2,029
872
1,824
4,740
124,690
973
159
1,132
133,232

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Blues Preschool & Nursery

Report and Accounts

For the year Ended 31/08/2024

Page 17 of 17