Ventnor Community Early Years Centre Ltd
Trustee Report
- 2023 2024
This year started with us opening at our new site at St Francis Primary school. We were still cautious but optimistic of a brighter financial future. We left behind a damp, cold, expensive and decaying building and now reside in a maintained, modern space; our overheads have dramatically reduced as we are no longer responsible for separate utility bills and building maintenance. Our new lease includes electric, water, gas and upkeep of the facilities.
Our landlord ensured our new space was freshly decorated, and they supplied extra fencing, and hard flooring to make it suitable for nursery.
In October 2023 we took the decision to purchase a training accreditation to promote high quality Early Years education and care. The Curiosity Approach provides monthly team gatherings for continuous professional development. We have covered a range of topic such as: Freedom to move, Outdoor play, Rhythms and Rituals. These opportunities ensure all staff feel included and are able to contribute to our overarching ethos and vision.
We were conscience of our outgoings and therefore relied upon donations for new resources. The local school generously donated a large supply of powder paint which was surplus to their needs, and enabled our children to have access to paint every day. Many hours were dedicated to scouring free selling sites, car boot sales, and charity shops to find cheap and free items to enhance our offering.
Once we reached the 2024 summer term our numbers of children on roll increased and therefore, financially, we were
able to meet our outgoings. This provided stability for staff and children and a bright future beckoned.
Sincerely,
Helen McMullin
REGISTERED COMP.4NY NUNIBER: 084.57584 (England and Wales) REGISTERED CHARITY NIJI1BER. 1157643 Re ort of'th Trustees and Unaudited Financial Statements for the Yvar Ended 31 Au ust ?024 for Ventnor Communi Earl Years Centre Allegri & Co. 16c Sandown Road Lake Isle of IlIighi P036 9JP
Ventnor Communi ars Cenire ents of e Financial Statements for the Year Ended 31 Au ust 2024 Page Report of the Trustees Independent Examinels Rewrt Statemenl of Financial Activities Balance Sheet Notes lo the Financial Statements 6 lo 10 Deiailed Statement of Financial Activities
Ventnorcommuni s Centre Re ort of the Trnslees tor the Year En ed31 Au ust 2024 The INslees who are also directors of the Charity for the purposes of the Compa])ies Act 2006, present their report with the financial siatemenis of the charity for the year ended 31 August 20?4. The Iruslees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their ac¢ounis in accordance ivith ihe Financial Reporting Standard applicable li) the UK and Republi¢ of Ireland {FRS 102) (effective l January 2019). OWECTIVES AND AcfiviTIES Objeclives and aims To enhance the development and education of children primarily under slaiulory school age by encouraging parents lo understand and provide for the needs of their children through coinmuniry groups and by= offering appropriate play,education and care facilities and trainin&F ¢ourses.togeiher with the right of parents to take responsibilill, for and lo become involved in ihe aclivilies of such groups, ensuring ihat such groups offer opportunities for all children whatever their race,cultur¢,religion.means or ability en¢ouraging the study of the needs ot. such children and their families and promoting public inierest in and recognilion of such needs instigating and adhering lo and furthering the aims and objecls ot'ihe pre-school learning alliance. Significant aclivities This year marks an exciting new chapter for Ventnor Community Early Years. After a very busy summer holidays packing. moving and settin¥ up our new classrooms il was lime to commence the academic year. In Seplember we opened our new premises to our wonderful children and lamilies at St Francis Primary Academy. The enviTonment is truly outstanding and we feel extremely fortunate to have secured a modern putw)se built space leaving behind a cold, damp and costly building. By October li felt like home and the children were thriving, we particularly appreciated the undert1r heating which kept us wami and the ouidwr canopy which keeps us dry, so we can play outside in all weathers. We felt a strong desire to further improve our praclice and extend our knowledge and decided lo join the Curiosity Approach Accredilation. Once complele we will become the first setting on ihe Isle of Wight with this status. In December we celebrated Chrisimas with an ouidoor winter wonderland afternoon. We inviled children and families to ome ¥t1her and ei)joy a warining BBQ, hol chocolates, craft activities, music & dancing and of course a visit from Father Christmas. This was planned for afterschool to enable us to come together as a community and older siblings from the schMI could participaie. In March we celebrated World Book Day and our theme was the Gruffalo. The children helped ¢reate a Gruffalo feast of Owl ice-cream and Gruffalo crumble. This was a rich learning experien¢e for the children which promoted Literacy. In June as we embarked on the last Half-Tem) of the year our school leavers were invited to visit the Reception Class on daily basis. This was an exceplional transition for the children and Ihey became very familiar with the school environment and new teachers. In addition we also studied the lifecycle of a burtertly and enjoyed outside waler play. In Julv we orgyanised a games moming where we played traditional games such as sack racing and egg & spoon races. The children also benefited fron) a teddy bears picnic in the school woodland and a party. Our school leavers and parents were invited io a soft play activity centre io end the year. Our school leavers were presented with an individual handmade bear to treasure as a reminder of their lime wilh us. This was a challenging year for staff as one member required a 6 month leave due lo poor mental health and another a period of time for bereavement leave due lo losing a parent. The tean) pulled together and we were siill able to ofter an amazing early years experience for the children. Public benefit In setting our objectives and planning our activities our Trnstees have given serious wnsideralion lo the Charity Cominission's general guidance on publi¢ benefit 2nd in particular the advancemenl of education. Page I
Ventnor Communi Earl Years Centre ort of th Trustees f rth YearEn d31Au 024 FUTURE PLANS The Trustees have been focussed on doing everything possible to achieve an impn)ved Ofsled outcome ai the December 2022 follow-up inspeclion and are delighted to report Ihai the Of51ed report found the setting lo be outstsnding. STRucfuRE, GOVERIYANCE AND MANAGEMENT GoveTning document The ¢harity is controlled by ils governing documenl, a deed of tnlsl, and conslitules a limited company, limited by guarantee, as defined by ihe Companies Act 2006. REFEREYCE AND ADMINisfRATIVE DETAILS Registered Company number 08457584 (England and Wales) Registered Charity number 1157643 Registered office 16c Sandown Road Lake Isle of Wight P036 9JP Trustees H M Me Mullin Early Year Teacher Miss E M L Cousins Carer Ms E L Brown Early Years Teacher Mrs S Adams Director {apw)inted 1.6.24) Company Secretsry Mrs H M Mc Mullin Independent Examiner Selina Powder FMAAT Allegri & C.0. 16c Sandown Road Lake Isle of Wighi P036 9JP Approved by orderof the board of trustees on ...12...Q)....AJ................... and signed on its behalf by: Mrs H M Mc Mullin- Trustee Page 2
Inde endent Ex minerfs Re ort io the Trustee Venlnor Communit Earl Year5 Centre Independent examiner's report to the trustees of Ventnor Community Early Years Centre ('thÈ Company,) I report to the charity lrnslees on my examination of Ihe accounts of the Company for the )'ear ended 31 Augiusi 2024. Responsibilities and b4sis of report As ihe charity's trustees of the Company (and also its direclors for Ihe purposes of Company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'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 e.xaminaiion of your charity's accounts as carried out under Section 145 of the Charities Aci 2011 ('Ihe 2011 Act,). In carying out my examination I have followed the Directions given by the Charity Commission under Sedion 145(5) {bl of the 2011 A. Independent examiner's statement I have compleied my exRminalion. I confimi that no matters have come lo my atlenlion in connection with ihe examination giving me ¢ause lo believe: accounting records were not kepl in respecl of the Coinpany as quired by Section 386 of the 2006 Act. or the accounis do not accord with those records: or Ihe acLounls do not comply with the aLcounting requirements of Section J96 of ihe 2006 Act other than any requiremeni that the accounts give a true and fair view which is not a matter considered as part of an independent examination- or Ihe accounts have not been prepared in accordance with ihe methods and principles of the Sialeinent of Recommended Prdctice for acLounting and reporting by charilies {applicable to charities preparing their accounls in accordance with the Financial Reporting SLgndard applicable in the U K and Republic of Ireland (FRS I O?)). I have no concerns and have come across no other matters in coiineclion with the examination lo which attention should be dram'n in this report in order lo enable a proper understanding of the accounts to be reached. Selina Powder FMAAT The Associaiion of Accounling Technicians Allegri & Co. 16c Sandown Road Lake Isle of Wight P036 9JP Date.. ..1.2. MAY.20Z5.......... Page 3
Venmor Communi Earl Years Centre Statement of Financial Activilies for the Year Ended 31 A USI 2024 31.8.24 Tolal funds 31.8.2i Total funds Unrestricted fund Resiricted funds Noies INCOME AND ENDOWMENTS FROM Donaiions and legacies Charitable activities Education and Development 162,703 162,703 147,175 Total 162,704 162,704 147,175 EXPENDITURE OIY Charitable actii'ities Education and Development 154JlS 1$4J15 188,868 NET INCOMEI(EXPENDITURL) 8J89 8J89 141,693) RECONCILIATION OF FUNDS Total funds broughi forward (10,826) (10,826) 30,867 TOTAL FUNDS CARRIED FORWARD {2,437) (2,437) 110.826) The notes fomi part of these financial statemenls Page 4
Venin Communit Earl Years C ntre Balance Sheet 31 Au ust 2024 31.8.24 Total funds 31.8.23 Total funds Unrestricted fund Resiricted funds Notes FIXED ASSETS Tangible assets lJ97 lJ97 1,650 CURRENT ASSETS Cash at bank 493 493 1.416 CREDITORS Amounls falling due within one year (4J27) (4J27) {13.892) NET CURRENT ASSETS/(LIABILITIES) (3,834) (3,834) 112,476) TOTAL ASSETS LESS CURRENT LIABILITIES (2,437) (2,437) (10,8261 NET ASSETSI(LIABILITIES) (2,437) {2,437) (10,8261 FUNDS UnresiriLted funds (2,437) (10,8261 TOTAL FUNDS (2,437) {10,8261 The charilable company is entitled lo exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024. The members have not required the company lo obtain an audit of its financial statements for ihe year ended 31 August 2024 in accordance with Seciion 476 of ihe Companies Aci 2006. The trustees acknowledge their responsibilities for la) ensuring thai the charilable coinpany keeps accountin¥ records ihai comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial stAtements which ¥ive a true and fair view of the stale of affairs of the charilable company as at Ihe end of ea¢h financial yexr and of its surplus or deficit for each financial year in accordanee with the requirements of Sections 394 and 395 and which oiherwise comply with the requiretnents of the Companies Act 2006 relating to financial statements, so far as applicable lo the charitable company. (b) These financial slalemenls have been prepared in accordance with the provisions applicable lo charitable companies subject to the small compaiiies regime. The financial slatemenls were approved by the Board of Trustees and authorised for issue and were signed on its behalf by.. on H M Mc Mullin- Truslee The notes fomi part of these financi21 statements Page 5
V nlnor C mmuni Earl Years Cei)Ir Notes lo the Financixl Statements for the Year Elided 31 Au sl ?024 ACCOUNTING POLICIES B*sis of preparing the fjnancial statements The financial stalements of the chariiable company. which is a public benefii entity under FRS 102, have been prepared in a¢cordance with the Charities SORP IFRS 102) 'A¢countin¥ and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Rewrting Standard applicable in the UK and Republic of Ireland IFRS 102) letTective l January 2019),, Financial RertIng Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act ?006. The financial statements have been prepared under the hislorical ¢ost convention. Income All income is recognised in the Sialement of Financial Activities once the charity has enlitlement to the funds. it is probable that Ihe income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised &% expenditure as soon as there is a legal or constructive obligalion cominitting the charity lo that expenditure, it is probable ihat a transfer of economic benefits will be required in settlement and the amount of Ihe obligalion can be measured reliably. Expenditure is accounted for on an a¢¢ruals basis a]Id has been elassified under headin(ys that aggFregate all cosl related to the category. Where costs cannot be directly allribuied to particular headings they havc been allocated lo activities on a basis ¢onsistenl wilh the use of resources. Tangible fixed assets Depreciation is provided al the following annual rdtes in order to write off each asset over its estimated useful life. Taxation The charity is exempt froin c4)rporation tax on its charitable aaivities. Fund aceounting Unresiricted funds can be used in accordance with the charilable objectives at the discretion of the irustees. Restricted funds can only be used for particular restricted purposes within the objects of ihe charity. Restrictions arise when specitied by the donor or when funds are raised for particular restricted purposes. Further explanation of the rbalure aT]d purpose of each fund is included in the noles lo the financial slatemenls. Hire purchase and leasing commitments Rentals paid under operating le&ses are charged to the Statement of Financial Aciivities on a straight line basis over the period of the lease. Pension costs and other post-retirement beDefJts The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable ¢ompany's pension scheme are charged lo ihe Statement of Financial Activities in the period to which they relate. Page 6 Continued...
Ventnor Conimunit Earl Years Centr¢ Notes to the Financial Stateinenls - continued rthey arEnded31 Au usi2 24 NET INCOME/(EXPENDITURE) Net income/lexpenditure} is Stated after chargingllcrediling): 31.8.24 31.8.23 Deprecialion - owned assets Hire of plant and machinery Other operating leases 253 299 237 6,200 9,999 TRUSTEES, REMUNERATION AND BEINEFITS No trnst¢¢s received any remuneration or other benefits for their work as trustees for the year ended 31 August 2024 nor for the preceding year. Two of the truslees are full time paid emplo)'ees of Ihe Charity, their remunerdlion being wholly for their work as employees. Trustees, expenses There were no 31 Augusl ?023. Irusiees, expenses paid for the year ended 31 August 2024 nor for Ihe year ended STAFF COSTS The average monthly number of employees during the year w&8 as follows: 31.8.24 31.8.23 12 Teaching and care staff No employees received emoluments in excess of £60,000. COMPA114TIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricied fund Restricted funds Total funds INCOME AND ENDOWMENTS FROM Charitable activities Education and Development 147.175 147,175 EXPEIYDITURE O Choritsble activities Education and Development 188.868 188,868 NET INCOMEI(EXPENDITURE} (41,693) (41,693) RECONCILIATION OF FUNDS Toial funds brought forward 30,867 30,867 TOTAL FUNDS CARRIED FORWARD {10,8?6) (10,826) Page 7 continued...
Ventnor mmunil Earl Ycars Centre Noles lo the Financial Statements - continued for the Year Ended 31 Au ust 2024 TANGIBLE FIXED ASSETS Planl and machinery Computer equipment Totals COST Ai I September 2023 and 31 August 2024 12,751 726 13,477 DEPRECIATION At I September 2023 Charge for year 11,1.54 240 673 13 IlJ27 253 At 31 August 2024 IlJ94 686 12,080 NET BOOK VALUE At 31 August 2024 lJ57 40 lJ97 AI 31 ALtgust 2023 1,597 53 1,650 CREDITORS: AMOUNTS FALLING DUE IVITHIN ONE YEAR 31.8.24 31.8.23 Social security and oiher taxes Pension Creditor Wages creditor Accrued expenses 1,571 278 961 286 10,697 1.948 2,478 4J27 li,892 MOVEMENT IN FUNDS Net movement in funds Ai 31.8.24 Ai 1.9.23 Unrestricted funds General furkd (10,826) 8J89 (2,437) TOTAL FUNDS (IOW26) 8J89 (2,437) Nd movement in funds, included in the al)ove are as follows.. Incoming resources Resources e¥pended Movemeni in funds Unrestricted funds General fund 162,704 (154J15) 8J89 TOTAL FUIYDS 162,704 (154J15) 8J89 Page 8 continued...
Venthor Communil Earl Years Centre Notes to the Financial Sialements - continued forthe Yrar Ended 31 Au ust 20?4 MOVEMENT IN FUNDS- continued Compar2tive$ for movetnent in funds Nel movement in funds At 31.8.23 At 1.9.22 Unrestricted funds General fund 30,867 141,693) (10,826) TOTAL FUNDS 30,867 {41,693) {10.8261 Comparative net movement in thnds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 147,175 1188,868) (41,693) TOTAL FUNDS 147,175 1188,868) {41,693) A current year 12 monihs and prior year 12 months combined position is &$ follows: Nel movement in funds At 31.8.24 Ai 1.9.22 UDrestrieted funds General fund 30,867 (33,304) (2,437) TOTAL FUNDS {33.304) (2,4371 A curreni year 12 monihs and prior year 12 months combined net movement in funds, included in the above are as follows- Incoming resources Resources expended Movement in funds Unrestricted funds General fund 309,879 (343.183) (33,304) TOTAL FUNDS 309.879 {343,183) (33,304) Page 9 onlinued...
Ventn r Communit Earl Years Centre Notes to the Financial Statements- continued forthe Year Ended 31 Au ust 20?4 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended J l Au¥usi 2024. Page 10
iitnor Communi Earl Years Centre Detailed Stalemenl of Financial Activities for the Year Ende 31Au usl 2024 31.8.24 31.8.23 11¥4COME AND ENDOWIMENTS DonAtion$ and legacies Gifis Charitable activities Fees Funding Contracts 36,112 126,591 41,133 106.042 162,703 147,175 Totsl incoming resources 162,704 147,175 EXPENDITURE Ch4ritable activities Wages Social security Pensions Hire of plant and machinery Renl Rates and water Insurance and subscripiions Light and heal Telephone & Broadband Postage and stationery Trips and Activities Classroom equipment Cleaning and unifomis Food and catering supplies Staff Training Wasle Collection 116,647 2,096 2,047 150,174 6.061 2,625 237 6,200 3,731 5,052 5,160 1,544 67 328 80 1,392 422 1,744 56 9,999 2,797 4,878 231 333 239 725 390 7295 ,843 538 150,058 184,873 Support costs Finance Bk charges Payment System Charges 84 1,032 93 898 1,116 991 lllformation technology Repairs and renewals 1246 Other Sundries CatTied fOard 21 21 106 106 This page does not form part of the statutory financial statemenis Pagell
Venlnor Cominuni E l Years Centre Delailed Siatemeni of Financial Activities for ihe Year Ended 31 Au ust 2024 31.8.24 31.8.23 Other Brought forward Exlemal Examiner Fees Accounlancy and payroll fee5 21 106 600 887 853 874 1,593 Other 2 Planl and machinery Compuler equipment 240 13 282 18 300 Governance costs Legal fees 768 Total resources expended 154J15 188,868 Net ineome/(txpenditure) 8J89 41.693) This page doe5 noi forni part of the slalulory financial slaiements Page 12
Inde endent Ex Ventn r Communi inerfs Re rt to the Trustees of Earl Years Centre Independent examiner's report to the trustees of Venthor Community Earty Years Centre ('the Company,) I report to the charity trustee5 on my examination of the accounts of the Company for the year ended 31 August 2024. Responsibilities 2nd basis of report As the charity's trustees of the Company (and also its directors for the puttx)ses of company law) you are responsible for the prepardlion of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 A¢t'). 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 independeni examination. I rert in respect of tny examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 (%h¢ 201 l ACV). In carrying out my examination I have followed the Directions given by the Cbarity Commission under Section 145(5) (b) of the 2011 Act. Independent examiner's statetnellt I have completed my examination. I confirn) that no matters have come to my attention in connection with the examination giving rn¢ Cause to believe: accounting records were not kept in respecl of the Company &$ required by Section 386 of the 2006 Act; or the accounts do not accord with those records. or the accounts do not comply with the aCco[ting requirements of Section 396 of the 2006 Acl other than any requirement that the accounts give a trne and fair view which is not a matter considered &8 part of an independent examination- or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Prdctice for accounting and reEM)rting by charities (applicable to charities prepartng their acuntS in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102)). I have no concems and have me 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 acwunts to be reached. Selina Powder FMAAT The Association of Accounting Technicians Allegri & Co. 16c Sandown Road Lake Isle of Wight P036 9JP Date.. 1..2. MAY.2Q25.......... Page 3