REGISTERED COMPANY NUMBER: 08979045 (England and Wales) REGISTERED CHARITY NUMBER: 1156836
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 August 2022
for
Warren Preschool Limited
Watkinson Black
1st Floor, 264 Manchester Road Warrington WA1 3RB
Warren Preschool Limited
Contents of the Financial Statements for the Year Ended 31 August 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 12 |
| Detailed Statement of Financial Activities | 13 to 14 |
Warren Preschool Limited
Report of the Trustees for the Year Ended 31 August 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2022. The trustees have adopted the provisions of 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
Objectives and aims
The objective of the charity is to provide quality pre-school education and care through its not-for-profit company Warren Preschool Ltd
The Warren Pre School provides a fun, friendly and stimulating environment for children aged two to five, where the emphasis is on "learning through play". The children are valued individuals and are given a fulfilling and rewarding pre-school education that will provide a firm foundation for future growth and development. All the activities at the preschool are organised to cover the initial achievements of the Early Learning Goals in accordance with the Foundation Stage. The nursery is registered with Ofsted Early Years to provide pre-school education and care for 30 children at each session and 30 children for lunch.
Significant activities
The nursery has once again improved on its registrations: and the number of 2 year old places have increased considerably, making the nursery financially more secure - with some sessions already full.
FINANCIAL REVIEW
Principal funding sources
Warren Preschool's income is derived from fees, local authority Free Early Years Entitlement and fund-raising. Warren Preschool is registered under the Warrington Borough Council scheme and is able to offer children Free Early Years Entitlement at the beginning of the term following their third birthday.
A child is entitled to a maximum of 570 hours of universal funding over each 12 month period on a rolling process from when they first access their funding. Up to a further 15 hours a week is also available where the necessary criteria is met within the extended funding. A minimum of 2.5 hours and a maximum of 10 hours can be claimed in any one day. The maximum claim of 15 hours universal funding plus up to a further 15 hours if extended funding is applicable must be taken over no fewer than 3 days.
Warren Preschool are now also able to offer a limited number of Free 2 Year old Nursery placements. The local authority use criteria to assess if a child is entitled to it.
With 2 year old places being made available this impacts the staff to children ratio which has meant salary costs are higher than expected. This is being monitored to ensure that only the necessary number of staff are covering any one particular session. There has also been an increase in fees during the year.
FUTURE PLANS
Looking forward to 2022 - 2023 the numbers of children enrolled are good for a sustainable nursery, and have waiting lists for 2 and 3 year olds.
Page 1
Warren Preschool Limited
Report of the Trustees
for the Year Ended 31 August 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
The voluntary structure of the company provides long term policy, strategic decisions and support for the nursery manager by offering a source of experience and expertise (eg finance, planning, personal, building and education). The trustees attend meetings on a quarterly basis with sub-groups for education, finance, building and Way Forward meeting as required. The Nursery Manager, Mrs Gail Brannan, is accountable to the trustees and, within the overall strategy set by the Trustees, is responsible, for the medium and day to day leadership and management of the business. This includes determining priorities, proposing and setting objectives, policy and implementation of staff development and support, establishing communications and using managerial skills to resolve conflict, solve problems and develop the teamwork ethos. The management team consists of qualified staff with early years' expertise, and includes senior staff with NVQ or NNEB qualifications. With teamwork and essential support from nursery practitioners, excellence in education and childcare is achieved to budget. All staff hold paediatric first aid.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
08979045 (England and Wales)
Registered Charity number
1156836
Registered office
22 Warren Lane Woolston Warrington WA1 4ES
Trustees
Mrs S Ellison FCA Mrs G Brannan S Kenyon
Independent Examiner
Watkinson Black Watkinson Black 1st Floor, 264 Manchester Road Warrington WA1 3RB
Approved by order of the board of trustees on 16 May 2023 and signed on its behalf by:
Mrs S Ellison FCA - Trustee
Page 2
Independent Examiner's Report to the Trustees of Warren Preschool Limited
Independent examiner's report to the trustees of Warren Preschool Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (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 the Company 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 the Company 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.
Watkinson Black
Watkinson Black 1st Floor, 264 Manchester Road Warrington WA1 3RB
17 May 2023
Page 3
Warren Preschool Limited
Statement of Financial Activities for the Year Ended 31 August 2022
| 31/8/22 | 31/8/21 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Charitable activities | |||
| Operating activity | 81,092 | 83,711 | |
| Other trading activities | 2 | 213 | 488 |
| Total | 81,305 | 84,199 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Operating activity | 82,492 | 83,102 | |
| Other | 3,449 | 4,343 | |
| Total | 85,941 | 87,445 | |
| NET INCOME/(EXPENDITURE) | (4,636) | (3,246) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 38,747 | 41,993 | |
| TOTAL FUNDS CARRIED FORWARD | 34,111 | 38,747 |
The notes form part of these financial statements
Page 4
Warren Preschool Limited
Balance Sheet
31 August 2022
| 31/8/22 Unrestricted fund Notes £ CURRENT ASSETS Debtors 8 186 Cash at bank and in hand 36,578 36,764 CREDITORS Amounts falling due within one year 9 (2,653) NET CURRENT ASSETS 34,111 TOTAL ASSETS LESS CURRENT LIABILITIES 34,111 NET ASSETS 34,111 FUNDS 10 Unrestricted funds 34,111 TOTAL FUNDS 34,111 |
31/8/21 Total funds £ 1,481 39,858 41,339 (2,592) 38,747 38,747 38,747 38,747 38,747 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 5
continued...
Warren Preschool Limited
Balance Sheet - continued
31 August 2022
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 16 May 2023 and were signed on its behalf by:
S Ellison FCA - Trustee
The notes form part of these financial statements
Page 6
Warren Preschool Limited
Notes to the Financial Statements for the Year Ended 31 August 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from corporation tax on its charitable activities.
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Page 7
continued...
Warren Preschool Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
2. OTHER TRADING ACTIVITIES
| Fundraising events 3. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Other operating leases 4. TRUSTEES' REMUNERATION AND BENEFITS Trustees' salaries Trustees' fees Trustees' pensions paid |
31/8/22 £ 213 31/8/22 £ - 8,904 31/8/22 £ 32,032 4,200 961 37,193 |
31/8/21 £ 488 31/8/21 £ 327 11,172 |
|---|---|---|
| 31/8/21 £ 29,304 4,102 879 |
||
| 34,285 |
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Staff No employees received emoluments in excess of £60,000. |
31/8/22 5 |
31/8/21 5 |
|---|---|---|
Page 8
continued...
Warren Preschool Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |
|---|---|---|
| Unrestricted | ||
| fund | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Charitable activities | ||
| Operating activity | 83,711 | |
| Other trading activities | 488 | |
| Total | 84,199 | |
| EXPENDITURE ON | ||
| Charitable activities | ||
| Operating activity | 83,102 | |
| Other | 4,343 | |
| Total | 87,445 | |
| NET INCOME/(EXPENDITURE) | (3,246) | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 41,993 | |
| TOTAL FUNDS CARRIED | ||
| FORWARD | 38,747 | |
| 7. | TANGIBLE FIXED ASSETS | |
| Computer | ||
| equipment | ||
| £ | ||
| COST | ||
| At 1 September 2021 and | ||
| 31 August 2022 | 1,313 | |
| DEPRECIATION | ||
| At 1 September 2021 and | ||
| 31 August 2022 | 1,313 | |
| NET BOOK VALUE | ||
| At 31 August 2022 | - | |
| At 31 August 2021 | - |
Page 9
continued...
Warren Preschool Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|---|
| 31/8/22 | 31/8/21 | |||
| £ | £ | |||
| Prepayments and accrued income | 186 | 1,481 | ||
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31/8/22 | 31/8/21 | |||
| £ | £ | |||
| Social security and other taxes | 623 | 624 | ||
| Other creditors | 1,718 | 1,238 | ||
| Pension liability | 312 | 302 | ||
| Accruals and deferred income | - | 428 | ||
| 2,653 | 2,592 | |||
| 10. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.9.21 | in funds | 31.8.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 38,747 | (4,636) | 34,111 | |
| TOTAL FUNDS | 38,747 | (4,636) | 34,111 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 81,305 | (85,941) | (4,636) | |
| TOTAL FUNDS | 81,305 | (85,941) | (4,636) |
Page 10
continued...
Warren Preschool Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | At | |
| At 1.9.20 | in funds | 31.8.21 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 41,993 |
(3,246) | 38,747 |
| TOTAL FUNDS 41,993 |
(3,246) | 38,747 |
| Comparative net movement in funds, included in the above are as | follows: | |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 84,199 |
(87,445) | (3,246) |
| TOTAL FUNDS 84,199 |
(87,445) | (3,246) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At 1.9.20 in funds £ £ 41,993 (7,882) 41,993 (7,882) |
At 31.8.22 £ 34,111 |
|---|---|---|
| 34,111 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 165,504 | (173,386) | (7,882) |
| TOTAL FUNDS | 165,504 | (173,386) | (7,882) |
Page 11
continued...
Warren Preschool Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2022.
12. ULTIMATE CONTROLLING PARTY
The charity is controlled by the trustees who are all directors of the company.
Page 12
Warren Preschool Limited
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 August 2022 | ||
| 31/8/22 | 31/8/21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Other trading activities | ||
| Fundraising events | 213 | 488 |
| Charitable activities | ||
| Nursery fee income | 15,305 | 7,269 |
| Grants | 65,787 | 76,442 |
| 81,092 | 83,711 | |
| Total incoming resources | 81,305 | 84,199 |
| EXPENDITURE | ||
| Charitable activities | ||
| Trustees' salaries | 32,032 | 29,304 |
| Trustees' fees | 4,200 | 4,102 |
| Trustees' pensions paid | 961 | 879 |
| Wages | 32,826 | 33,507 |
| Pensions | 559 | 555 |
| Rent | 8,904 | 11,172 |
| Insurance | 1,211 | 1,194 |
| Telephone | 1,244 | 1,219 |
| Postage and stationery | 158 | 125 |
| Sundries | 615 | 418 |
| Depreciation of tangible fixed assets | - | 327 |
| 82,710 | 82,802 | |
| Other | ||
| Craft, toys & activities | 301 | 734 |
| Snack costs | 268 | 282 |
| Staff training | 150 | 76 |
| Staff welfare | - | 424 |
| Repairs & maintenance | 498 | 506 |
| Cleaning | - | 89 |
| Legal & professional costs | 2,232 | 2,232 |
| 3,449 | 4,343 | |
| Support costs | ||
| Finance | ||
| Bank charges | 82 | - |
This page does not form part of the statutory financial statements
Page 13
Warren Preschool Limited
Detailed Statement of Financial Activities for the Year Ended 31 August 2022
| Detailed Statement of Financial Activities for the Year Ended 31 August 2022 |
||
|---|---|---|
| 31/8/22 | 31/8/21 | |
| £ | £ | |
| Finance | ||
| Governance costs | ||
| Accountancy and legal fees | (300) | 300 |
| Total resources expended | 85,941 | 87,445 |
| Net expenditure | (4,636) | (3,246) |
This page does not form part of the statutory financial statements
Page 14