Weeley Rainbow Pre-School Limited (A company limited by guarantee) Report and financial statements for the year ended 30 September 2020
Charity number 1158369 Company number 08456828
Clacton Business Services Ltd Chartered Accountants Hurlingham Chambers 61 Station Road Clacton-On-Sea Essex. CO15 1SD
Weeley Rainbow Pre-School Limited (A company limited by guarantee)
Financial Statements For the Year Ended 30 September 2020
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees report | 2 – 3 |
| Independent examiners’ report | 4 |
| Statement of fnancial activities | 5 |
| Balance sheet | 6 |
| Notes to the fnancial | 7 – 9 |
Weeley Rainbow Pre-School Limited (A company limited by guarantee) Legal and administrative information
| Charity number | 1158369 |
|---|---|
| Company number | 08456828 |
| Registered ofce | 16 The Green |
| Clacton-On-Sea | |
| Essex | |
| CO16 7BH | |
| Trustees | |
| Mrs. Victoria Hurrell (Chairperson) | |
| Mr. James Hurrell | |
| Miss Racheal Carr (Secretary) | |
| Accountants | Clacton Business Services Limited |
| Chartered Accountants | |
| Hurlingham Chambers | |
| 61 Station Road | |
| Clacton-on-Sea | |
| Essex | |
| CO15 1SD |
Weeley Rainbow Pre-School Limited (A company limited by guarantee)
Page 1
Report of the trustees For the year ended 30[th] September 2020
The Trustees present their report and the financial statements for the year ended 30 September 2020. The trustees who served during the year and up to the date of this report are set out on Page 1.
Objectives and activities
Objectives
The objective of the pre-school is to enhance the development and education of children under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups.
Main activities to achieve the objectives
All our activities are based on the Early Years Foundation Stage curriculum set by the department of Education and these can be structured by means of an organised activity i.e. number painting or by free play activities where the children make their own decisions on what activities they would like to do. i.e. role playing using dressing up clothes.
Achievements and performance
The preschool has performed satisfactorily in the year and has achieved the objectives outlined above.
Financial review
Funding sources
The main source of income is from government funding and fees paid by parents.
Reserves Policy
The total unrestricted fund as at 30 September 2020 amounted to £37,117. This is maintained to cover any unforeseeable expenses and for the expansion of the nursery.
Page 2
Weeley Rainbow Pre-School Limited (A company limited by guarantee)
Report of the trustees (continued) For the year ended 30 September 2020
Future Plans
To continue to run the nursery and gradually improve and expand the services provided by raising awareness and promoting it through various events and advertising.
Responsibilities of the Management Committee
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments 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 charity will continue in operation.
The trustees are responsible for keeping proper account records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2009. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Members of the Management Committee
Members of the Management Committee, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 1
Approved by the management committee on and signed on its behalf by;
V Hurrell Director & Chairperson
Page 3
Independent examiner’s report to the management committee on the unaudited financial statements of Weeley Rainbow Pre-School Limited
We report on the accounts of Weeley Rainbow Pre-School Limited for the year ended 30 September 2020 set out on pages 5 to 9.
Respective responsibilities of management committee and independent examiner
As the management committee you are responsible for the preparation of the accounts, you consider that the audit requirement of section 28 of the Charities Act 2006 (the Act), as amended by section 144 of the Charities Act 2011 does not apply and that an independent examination is needed. It is my responsibility to examine the accounts under section 145 of the Act, as amended; to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Act, as amended; and to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
Our examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as the whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention;
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(i) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep proper accounting records in accordance with section 130 of the Act; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or
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(ii) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Independent examiner
Clacton Business Services Ltd Chartered Accountants
Page 4
Weeley Rainbow Pre-School Limited (A company limited by guarantee)
Statement of financial activities For the year ended 30 September 2020
| UnrestrictedRestricted | UnrestrictedRestricted | UnrestrictedRestricted | 2020 | 2019 | ||
|---|---|---|---|---|---|---|
| Funds | Funds | Total | Total | |||
| Incoming resources | £ | £ | £ | £ | ||
| Incoming resources from generating | funds: | |||||
| Voluntary income | ||||||
| Grants | 104,101 | - | 104,101 | 75,870 | ||
| Fees | 4,461 | - | 4,461 | 10,784 | ||
| COVID Grants | 13,308 | - | 13,308 | - | ||
| Activities for generating funds | ||||||
| Fund raising | - | - | - | - | ||
| Interest | 36 | - | 36 | - | ||
| Total incoming resources | 121,906 | - | **121,906 ** | 86,653 | ||
| Resources expended | ||||||
| Wages | 2 | 61,264 | - | 61,264 | 55,240 | |
| Food & Suppliers | 8,032 | - | 8,032 | 4,384 | ||
| Pre-School Equipment | 2,014 | - | 2,014 | 2,141 | ||
| Rent & Hall Hire | 7,879 | - | 7,879 | 4,056 | ||
| Rates & Water | - | - | - | 314 | ||
| Waste Disposal | - | - | - | 1,975 | ||
| Telephone, Mobile & Internet | 555 | - | 555 | 559 | ||
| Postage and stationery | 910 | - | 910 | 801 | ||
| Advertising | 60 | - | 60 | 200 | ||
| Staf Expenses | 1,286 | - | 1,286 | 1,174 | ||
| Staf training & DBS checks | 317 | - | 317 | 263 | ||
| Admin Expenses | 13,720 | - | 13,720 | 14,560 | ||
| Uniforms | - | - | - | - | ||
| Repairs & Renewals | 175 | - | 175 | 744 | ||
| Sundry expenses | - | - | - | 13 | ||
| Insurance | 1,412 | - | 1,412 | 1,647 | ||
| Professional Fees | 1,705 | - | 1,705 | 2,363 | ||
| Legal & HR Fees | 418 | - | 418 | - | ||
| Accountancy | 1,767 | - | 1,767 | 799 | ||
| Bank charges | 82 | - | 82 | 75 | ||
| HMRC Interest | - | - | - | - | ||
| Companies House Fine | (750) | - | (750) | 1,479 | ||
| Depreciation | 6,330 | - | 6,330 | 2,076 | ||
| Total resources expended | 107,176 | - | 107,176 | 94,863 | ||
| (Defcit) Surplus | 14,730 | - | 14,730 | (8,210) | ||
| Total funds brought forward | 22,387 | - | 22,387 | 30,597 |
Transfer from Share Premium
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- Total funds carried forward 37,117 - 37,117 22,387
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The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognized gains and losses has not been prepared. All of the above amounts relate to continuing activities.
The notes on pages 7 to 9 form an integral part of these financial statements. Page 5
Weeley Rainbow Pre-School Limited (A company limited by guarantee)
Balance sheet As at 30 September 2020
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed Assets | |||||
| Tangible Assets | 3 | 12,851 | 11,136 | ||
| Current assets | |||||
| Debtors | 4 | 780 | 2,846 | ||
| Cash at bank and in hand | 26,106 | 13,025 | |||
| 26,886 | 15,871 | ||||
| Creditors: amounts falling | |||||
| Due within one year | 5 | 2,620 | 4,620 | ||
| Net current assets | 24,266 | 11,251 | |||
| Net assets | 37,117 | 22,387 | |||
| Funds | |||||
| Unrestricted income funds | 37,117 | 22,387 |
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for;
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a. ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
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b. preparing financial statements which give a true and fair view of the state of affairs of the 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 Section 394 and 395 and which comply with the requirements of the Companies Act 2006 relating to financial statements, so far applicable to the company.
The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The financial statements were approved by the Management Committee on……………………………… and were signed on its behalf by:
V Hurrell Director & Chairperson
The notes on pages 7 to 9 form an integral part of these financial statements. Page 6
Weeley Rainbow Pre-School Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 30 September 2020
1. Accounting policies The principal accounting policies are summarized below. The accounting policies have been consistently throughout the year and the preceding year.
1.1. Basis of accounting
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The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice “Accounting and reporting by charities” issued in March 2005 (SORP 2005) and the Charities Act 1993.
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1.2. Incoming resources
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All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.
Income from investments is included in the year in which it is receivable.
1.3. Resources expended
Expenditure is recognized on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
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.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity.
Page 7
Weeley Rainbow Pre-School Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 30 September 2020
2. Employees
Employment costs
| Employment costs | ||
|---|---|---|
| 2020 | 2019 | |
| £ | £ | |
| Wages and salaries | 60,577 | 54,736 |
| Social security costs | - | - |
| Pension costs | 687 | 504 |
| 61,264 | 55,240 | |
| No employee received emoluments of more than £60,000 | ||
| Number of employees | ||
| The average number of employees during the year, calculated | on the basis | of full- |
| time equivalents, was as follows: |
| time equivalents, was as follows: | |||
|---|---|---|---|
| 2020 | 2019 | ||
| Number | Number | ||
| 7 | 7 | ||
| 3. | Fixed Assets | ||
| Fixtures | |||
| & Fittings | |||
| COST | |||
| At 1 September 2019 | 27,325 | ||
| Additions | 8,045 |
| At 30 September 2020 DEPRECITATION At 1 September 2019 Charge for year At 30 September 2020 NET BOOK VALUE At 30 September 2020 At 1 September 2019 |
35,370 16,189 6,330 22,519 12,851 11,136 |
|---|---|
Page 8
Weeley Rainbow Pre-School Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 30 September 2020
| 4. Debtors Prepayments Debtors 2,846 5. Creditors: amounts falling due Within one year Accruals Purchase Ledger Taxation Pension |
2020 2019 £ £ 592 1,009 188 1,837 780 2020 2019 £ £ 798 1,566 - 2,940 1,684 - 138 114 2,620 4,620 |
|---|---|
Page 9