Company registration number: 08698469 Charity registration number: 1156713
Bossingham PreSchool Ltd
(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 August 2020
Vine Consultancy Ash Canterbury Kent CT3 2AU
Bossingham PreSchool Ltd
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 14 |
Bossingham PreSchool Ltd
Reference and Administrative Details
Trustees Clare Morris Clare Bristow Anita Keat Kerian Brodie Ellen Sole Rebecca Maisey Principal Office Bossingham Road Stelling Minnis Canterbury Kent CT4 6DU The charity is incorporated in England and Wales. Company Registration Number 08698469 Charity Registration Number 1156713 Independent Examiner Vine Consultancy Pippin Close Ash Canterbury Kent CT3 2AU
Page 1
Bossingham PreSchool Ltd
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 August 2020.
Objectives and activities
Objects and aims
The objects of the pre-school are to enhance the development and education of children primarily under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups and by:
Offering appropriate play, education and care facilities and training courses, together with the right of parents to take responsibility for and to become involved in the activities of such groups, ensuring that such groups offer opportunities for all children whatever their race, culture, religion, means or ability.
Encouraging the study of the needs of such children and their families and promoting public interest in and recognition of such needs.
Instigating and adhering to and furthering the aims and objects of the Pre-School Learning Alliance.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Structure, governance and management
Nature of governing document
The governing document of the charity is the Preschool Learning Alliance model Memorandum and Articles of Association and is registered as a Limited Company at Companies House.
Recruitment and appointment of trustees
Trustees are appointed for 1 year at the annual general meeting and will be available for re-election unless they have served on the committee in any capacity for 6 consecutive years. Co-opted members can only serve for 4 consecutive years.
Financial instruments
Objectives and policies
The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
Cash flow risk
The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.
Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.
Page 2
Bossingham PreSchool Ltd
Trustees' Report
Credit risk
The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.
Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.
The trustees (who are also the directors of Bossingham PreSchool Ltd for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently.
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observe the methods and principles in the Charities SORP.
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make judgements and estimates that are reasonable and prudent.
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
The annual report was approved by the trustees of the charity 31/08/2021 and signed on its behalf by:
......................................... C Bristow Trustee
Clare Bristow (Aug 31, 2021 15:38 GMT+1)
Page 3
Bossingham PreSchool Ltd
Independent Examiner's Report to the trustees of Bossingham PreSchool Ltd
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2020 which are set out on pages 5 to 15.
Respective responsibilities of trustees and examiner
As the charity’s trustees of Bossingham PreSchool Ltd (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of Bossingham PreSchool Ltd are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of Bossingham PreSchool Ltd as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Leah De Silva Vine Consultancy Pippin Close Ash Canterbury Kent CT3 2AU
Date: 23[rd] August 2021
Page 4
20
Bossingham PreSchool Ltd
Statement of Financial Activities for the Year Ended 31 August 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Charitable activities 3 Investment income 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 14 Note Income and Endowments from: Charitable activities 3 Investment income 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 14 |
||
|---|---|---|
| (11,289) | ||
| (11,289) 286,778 |
||
274,504 |
||
| Unrestricted funds £ 93,168 70 |
||
| 93,238 | ||
| (90,122) | ||
| (90,122) | ||
| 3,116 | ||
| 3,116 283,662 |
||
| 286,778 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 14.
Page 5
Bossingham PreSchool Ltd
(Registration number: 08698469) Balance Sheet as at 31 August 2020
| Note Fixed assets Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand 12 Creditors: Amounts falling due within one year 13 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 14 |
2020 £ 220,717 98 53,600 53,698 89 53,787 274,504 274,504 274,504 |
2019 £ 220,986 627 66,497 |
|---|---|---|
| 67,124 (1,332) |
||
| 65,792 | ||
| 286,778 | ||
| 286,778 | ||
| 286,778 |
For the financial year ending 31 August 2020 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors 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 company’s regime.
The financial statements on pages 5 to 15 were approved by the trustees, and authorised for issue on
31/08/2021 and signed on their behalf by:
Clare Bristow (Aug 31, 2021 15:38 GMT+1)
......................................... C Bristow Trustee
Page 6
Bossingham PreSchool Ltd
Notes to the Financial Statements for the Year Ended 31 August 2020
1 Charity status
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: Bossingham Road Stelling Minnis Canterbury Kent CT4 6DU
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Bossingham PreSchool Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Income and endowments
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Page 7
Bossingham PreSchool Ltd
Notes to the Financial Statements for the Year Ended 31 August 2020
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to headings, they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustee’s meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Freehold interest in land and buildings Not depreciated Fixtures, fittings and equipment Between 5 and 10 years straight line
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Page 8
Bossingham PreSchool Ltd
Notes to the Financial Statements for the Year Ended 31 August 2020
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustee’s discretion in furtherance of the objectives of the charity.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Page 9
Bossingham PreSchool Ltd
Notes to the Financial Statements for the Year Ended 31 August 2020
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded, or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
Derivative financial instruments
The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
Page 10
Bossingham PreSchool Ltd
Notes to the Financial Statements for the Year Ended 31 August 2020
- 3 Income from charitable activities
Bossingham Pre-School
4 Investment income
Interest receivable and similar income; Interest receivable on bank deposits
| Unrestricted funds General £ 53,134 Unrestricted funds General £ 181 |
Total 2020 £ 53,134 Total 2020 £ 181 |
Total 2019 £ 93,168 |
|---|---|---|
| Total 2019 £ 70 |
Page 11
Bossingham PreSchool Ltd
Notes to the Financial Statements for the Year Ended 31 August 2020
5 Expenditure on charitable activities
| Note Equipment and resources Wages and salaries Staff training Rates Water rates Light, heat and power and Water Insurance Repairs and maintenance Telephone and internet Computer software and maintenance costs Printing, postage and stationery Registration and subscription fees Sundry expenses Cleaning Advertising Legal and professional fees Depreciation, amortisation and other similar costs Governance costs 6 |
Unrestricted funds General £ 3,687 50,470 108 - - 2,218 1,497 680 477 490 410 263 15 293 1,408 370 269 1,950 64,604 |
Total 2020 £ 3687 50,470 108 - - 2,218 1,497 680 477 490 410 263 15 293 1,408 370 269 600 64,604 |
Total 2019 £ 9,261 66,827 1,086 728 438 1,370 1,481 1,050 - 801 1,085 316 405 417 1,446 262 399 600 |
|---|---|---|---|
| 90,122 |
6 Analysis of governance and support costs
Governance costs
| Independent examiner fees Examination of the financial statements |
Unrestricted funds General £ 600 600 |
Total 2020 £ 600 |
|---|---|---|
| 600 |
Page 12
Bossingham PreSchool Ltd
Notes to the Financial Statements for the Year Ended 31 August 2020
7 Net incoming/outgoing resources
Net incoming resources for the year include:
Depreciation of fixed assets
----- Start of picture text -----
2020 2019
£ £
269 399
----- End of picture text -----
8 Independent examiner's remuneration
Examination of the financial statements
----- Start of picture text -----
2020
£
600
----- End of picture text -----
9 Taxation
The charity is a registered charity and is therefore exempt from taxation.
10 Tangible fixed assets
| Cost At 1 September 2019 Additions At 31 August 2020 Depreciation At 1 September 2019 Charge for the year At 31 August 2020 Net book value At 31 August 2020 At 31 August 2019 11 Debtors Prepayments |
Land and buildings £ 219,748 - |
Furniture and equipment £ 2,808 - 2,808 1,570 269 1,839 969 1,238 2020 £ 98 |
Total £ 222,556 - |
|
|---|---|---|---|---|
| 219,748 | 222,556 | |||
| - - |
1,570 269 |
|||
| - | 1,839 | |||
219,748 |
220,717 | |||
219,748 |
220,986 | |||
| 2019 £ 627 |
Prepayments
Page 13
12 Cash and cash equivalents
| Cash at bank 13 Creditors: amounts falling due within one year Trade creditors Other taxation and social security Other creditors Accruals |
2020 £ 53,600 2020 £ - (1,520) 167 1,263 (89) |
2019 £ 66,497 |
|
|---|---|---|---|
| 2019 £ - 379 162 791 |
|||
| 1,332 |
14 Funds
| Unrestricted funds General Unrestricted funds General |
Balance at 1 September 2019 £ 286,778 Balance at 1 September 2018 £ 283,662 |
Incoming resources £ 53,315 Incoming resources £ 93,238 |
Resources Balance at 31 expended £ August 2020 £ (64,604) 275,489 Resources Balance at 31 expended £ August 2019 £ (90,122) 286,778 |
|---|---|---|---|
p
Annual report and Financial Statements YE 31.08.20
Final Audit Report 2021-08-31
Created: 2021-08-31 By: Leah De Silva (desilvaleah01@gmail.com) Status: Signed Transaction ID: CBJCHBCAABAALSHE4zTx6FOPn-Mv6SEjSNYh3n5ngXec
"Annual report and Financial Statements YE 31.08.20" History
Document created by Leah De Silva (desilvaleah01@gmail.com)
2021-08-31 - 12:56:59 PM GMT
Document emailed to Clare Bristow (cbbristow@yahoo.co.uk) for signature
2021-08-31 - 12:57:51 PM GMT
Email viewed by Clare Bristow (cbbristow@yahoo.co.uk) 2021-08-31 - 2:37:13 PM GMT
Document e-signed by Clare Bristow (cbbristow@yahoo.co.uk)
Signature Date: 2021-08-31 - 2:38:29 PM GMT - Time Source: server
Agreement completed.
2021-08-31 - 2:38:29 PM GMT