Charity registration number.. 11591C Woodford Community Pre-school Annual Report and Financial Statements ft>r the Year Ende(131 Augu812023 WESTCOTTS CN*ITIIIO ACCOUMTANTS A 8USINE$$ ADVISERS Woodford Communlty Pre4chool Rofernnce and Administrative Detsils Chairperson Mrs Alison Escott Truste Mrs Alison Escott Mr8 Jodie Liitlejohn Mrs Laura H8ylock Mrs Susan Westbrook Mrs Michelle Brooke-Wllli8m$ 11591C Charlty R•glstratlon Number Prfnclpal Offlc• Greenway Avenue Woodford Plymplon Ptymoulh PL7 4RR Matthew Keane ACCA Independent examinor Weslcotts Ptym House 3 Longbridge Road PtymoLrth PL6 8LT Indopendont Examln•r Page 1 Woodford Community Pre4chool Trustees, Report The trustees present the annual report together with the financial slalements of the charity for the year &nded 31 August 2023. Objvctlves and actlvltl Objects and oims Woo(Iford Comrnunlly Pr&School aims to enh8nce the development gn¢J educatlon of children under 8lalutory school age and encourage parènt8 to understand and provide for the needs of their children with Support from ourselves and other agencies. Public boneflt We offer appropriate play, education and care facilities and ensure the group offers opportunf(ie$ for all children, whatever their race. culture. religion, means or ability. The staff attend regular training lo update their Skills and knowledge and we regularly review our policies lo en8ure they are up lo dale with current legislation. We meet wrth parents regularfy lo inform thom of their child's progress and ancourage parent Part￿lP9110n. The TruBlees work closely with staff in order lo continually develop and enhance the pre-school. Vve have close links with the local primary schools and liaise with them at the end of every school year lo ensure a smooth Iran811ion lor children leawng pre-school in the summer term. Wg have very experienced SENCO'S who work closely with paranls and outside agencies to glve a hvJh lev81 of $upport lo children with additional need8. We have developed really good worklng relationships with these agenci88 ov8r the years. Our Trustees are very pro-active in our setting and contribute Immen8ely to the Management dutie¥, They meet regularty as a committee and 8180 with stsff to ensure effective ¢ommunication. They glve up a lot ol their lime lo help with fun days 8nd fundra￿1n9 acliviiies. The Iru8t&es conlimi that they have complied with the requirements of 8eclion 17 of the Charitie¥ Act 2011 to have due regard lo the public benefft guidance published by the Charlty Commission for England and Wales. A¢hl•vgm•nts and pfrrfom)anc• During Augu812022, the Pre-school relumed to its original premises al Woodford Methodist Church. ready lo re￿pen In September, The new wrap-around ¢are provision introduced al Huxley Close proved very su¢¢e$$ful and financialty lucrative, so thi5 was maintained on retufn to the Church setting. During this period, staffing remained con8lStenl and the Pre-school wgs pleased lo return lo its orKJinal setting, particularty due lo the wonderful outside 8P8C8 rt offers the children. In July 2023, the Pr&School celebrated rts 60th anniversary with a family fun day, The Lord Mayor was in attendance and the event wa5 well-supported by pa￿ntS and members of the Ioc81 community. It was fantastic for the Pre-school to be back in ils original hc4ne for this commemorative event. Pege 2 Woodford Community Pre-school Trustees, Raport {continued) Financlal revlew Our principle source of incorne is generated from the Earfy Years Funding which all children receive frorn the term after their 3rd Birthday. We also have children who receNe Me2 Funding for 2 year old children who meet the criteria. This is also funded through the Early Year5 team. We invoice fees for extra sessions and also for children who do not recewe funding. During the year we fundraise to purchase new equipment and r¢$our¢es for the children, Our largest area of expendf(ure is staff wages, however due lo adulln 14515llbl of the Act. Independent oxamlnerfs 8tatsm•nt I hav¢ ¢ompleled my examinolion. I confirm that no materi81 mallers have come lo my attention in connection with the examination gwing me c8U8e to believe that in 8ny malerfal respect.. 1. accountin9 records were not kept in respect of Woodford Communlty PrtrS¢hool a$ requI￿d by section 130 of the Act,. or 2. the account$ do not accord with tho8• records: or 3. the 8ccounts do not comply wlth the accounting requirements conceming the fomi and conlenl of a¢wunls sel out in the Charities (Accounts and Reports} Regulation8 2008 other than any rgquirement that the accounts give a 'lrue and fair wew, which is not a matter considered as part of an independent examlnalbn. I have no concern8 and have com8 acro88 no other matters in ¢onne¢tion with th& examination lo which attention should be drawn in this rèport in order to onablo a proper und•r8tanding of the accounts to b8 reached. Matthew Keane ACCA Independent examiner Westcotts Plym House 3 Longbridge Road Plymouth PL6 8LT Date.2 8./. 51.2. Page 5 Woodford Community Pre￿ChoOl Ststsment of Financial Activities for the Year Ended 31 August 2023 Unreltricted fund¥ Restrict•d fund8 Total 2023 Totsl 2022 Noto Income and Endowments from: Donations and lega¢ie¥ Charitsblè activities 2,000 239,820 2,956 4.956 239,820 150.938 Total incom8 241,820 2.956 244,776 150.938 Expendlture on: Chaiilable aclivrtie5 1196,483 2,956 1199,4391 175,069 Total expenditure Net incomellexpenditure) Net movement in funds 196,483 2,956 1199,439 175,069 45,337 45,337 24,1311 45,337 45,337 124,1311 RKonclllatlon of fund¥ Tot81 funds brought fO￿ard Total funds carr¢ed forward 11 63,723 109,060 63,723 109,060 87.854 63,723 All of th8 charity'8 8Ctivllles derive from continuing oper8lKin8 during the above iwo periods, Thg funds breakdown for 2022 18 Shown in note 11. The notes on pages 8 to 13 fom an integral part of these financial slalements. Page 6 Woodford Community Pre-school (Registration number: 1159106) Balanc• Sheot as at 31 August 2023 2023 2022 Note Flxed assets Tangible a$sets Currnnt ￿$￿ts Cash al bank and in hand 713 110.747 63,723 Crodltors: Amount• falllng duo wlthln one y•ar Not currnnt assets 10 2,400 108,347 63.723 N•t assets 109,060 63,723 Fund¥ ol tho charlty: Unr•slrfcted Incomo fund• Unrestricted funds 109 060 63,723 Total fund• 11 109,060 63,723 The financi81 slalgrnenlj on page8 6 10 13 were approved by the Irustoes, an¢J 8Uthorisod for issue on and signed on Ihelr behalf by.. Mrs Alison Escott Chaiman and Tru8tee s Jodie Lilllejohn Tru8teo The notes on pages 8 to 13 form an integBI part of these financial statements. Page 7 Woodford Community Pre4chool Notes to the Financial Statements for the Year Ended 31 August 2023 l Accounting policies Statement of compllanco The financial st8lemenl$ have been prepa￿d in accordance with the second edition of the Charities ststomenl of Recommended Practice issued in October 2019. the Financial Reporting Standard applicablo in the Unitod Kingdom and Republic of Iraland {FRS 1021 and the Charrtie8 Act 2011. B•¥ls ol preparatlon Woodford Community Pre-school meets the definition of a public benefit entity under FRS 102. The accounts (financial $18lemenlsl have been prepared under the historical cost convention with items recognised al cost OT transaction value unless otherwise staled in the ralevanl notelsl lo these 8ccounls. Golng concem The Iruslee8 conS￿er that there ore no material un¢ort8inti•$ about the ch8rity'8 abiltty lo continuè 88 golng concern. In¢om• •nd •ndowm•nts Voluntary income including donations, grfts. legacies and grants that provide core funding or are of general nature is recognised when the eharity ha8 enlitlemenl lo the ineome, il is probable that the income will be re￿iVed and the amount can be m8a6ured with $uffiGi¢nl reliability. Donatlons and legacle¥ DonalionB and legacies are recogni8ed on a Teceivable basis when receipt 18 probable and the amount can be reliably measured. Expondlture All expendrture is recognised once there 18 a legal or constructive oblig8lK>n lo that expendrture, rt 18 probÈble settlement i8 required 8nd the amount can be measured reliably. All costs are allocated to the applicoble expenditure heading that oggregalg similar costs to that category. Where costs cannot be directly attributed lo particular headings they have b8en allocalgd on a basis consislenl with the use of ￿sOUrCeS, with central staff coslg allocated on the basis of time spent. and depreciation charge5 allocated on the portion of the asset's use. Other $UPPOrt costs are allocaled ba8ed on the spread of stsff costs. Charltable actlvltles Charitable expenditure comprises those costs incurred by the charity in the delivery of ils activf(ies and services for its benefici8ries. 11 includes both costs that can be allocated directly to such aclivf(ies 8nd those co818 of an Indlrect nature necessary to 8UPPOrt them. Support Cogts Support costs include central functions and have been allocated lo activity cost categories on a basis consislenl wf(h the use of resources. for example. allocating property cost5 by floor areas. or por C8Prta, 81aff costs by the time spent and other costs by their usage. Page 8 Woodford Communlty Pre.School Notes to the Financial Statements for the Year Ended 31 August 2023 (continued) Taxatlon The chanty 18 considered to pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore rt meets the definition of a charitable company for UK ¢orporallon tax purposes. Accordingly. the charrty is potentially exempl from tsxalion in respect of income or capital gains received within categories covered by Ch8Pter 3 Part 11 of the Corporation Tax Act 2010 Of Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that Such Income or gains are applied exclusively lo charitable purposes. Tanglble fix￿ u••ts Individual fixed a8set8 costing £100.00 or mora are inilk8lly recorded al cost, less ony subsequent occumulaled depre¢iation and $ub$¢qu$nl a¢¢umul¥tsd impaimient losses. Doprgclatlon and amortl•atlon Depreciation is provided on tangible fixed asBels so as to write off th¢ coot or valuatlon. 1888 8ny eslimaled residual value, over their expected useful economic lrfe as follows.. A•8et class Office equipment Dfrprnclatlon method and rat• 3 years slraighl line Cash and ca•h •qulval•nts Cash 8nd cash equivalents comprise cash on hand and call dgposits, and other short-temi highly INJuid investments that 8re readily convertible 10 8 known amount of cash and are subject to an insignrficanl risk of change in value. Fund structur• Unrestricted income funds Are gen6ral funds that arè av8ilabk8 for use at th8 trusta88 discretion in furtherance of the objectives of the charity. De8ignaled fund6 are unr68tnctad funds eamarked by the tru8tee8 for particular future project or commitment. Restricted funds are subjected lo restrictions on their expendllure dedared by the donor or through the lem8 of an appeal, 8nd fall into one of fv40 sU￿tI8$S68.' restricted income funds or endowment funds. Flnanclal In8trum8nts Classlficatlon Financial assets and financial liabilitie5 are recognis8d when tho Gharity bacomés a party io the contractu81 provisions of the instrument. Financial liabilities and equity instruments are Classif￿ according lo the substance of the contractU81 a￿angeMentS entered into. An equrty instrument is any contract that ewdences a residual interest in the a$$ets of the ¢harity after dedu¢ling all of ils li•bililp$. Pag8 9 Woodford Community Pre-school Notes to tho Financial Statements for the Year Ended 31 August 2023 {contlnued) Recognltlon and measuremont All financial assets and liabilities are inrtially measured al transaction price {in¢luding transaction coslsl, except for those financial assets ¢lassrfied as al t8ir value through profrt or Ios5, which are inf(ially moa8ured at f8ir value (which is normally the transaction price excluding transaction coslsl, unless the arrangement constitutes a financing Iransaclion. If an arrangement constilules a financing transaction. the financial asset or financial liability is measur8d al the present value of the future payments discounted al a market rale of intswsl for a similar debt inslrumenl. Finaneial assets and liabilities are only offset in the statement of financlal posrtion when, and only when there exists a legalty enforceable right lo sel off the recognised omounls and the charity intends either to 8ettk on a nèl basis, or to realise the asset and settlg thg liabilty simultaneously. Financial assets are doracognised when and only when al the conlraclual rights lo the ca¥h flows from the financial asset expire or are settled, b} the charity Ir8nsfers lo another party subsl8nlially all of the risks and rèwafd8 of ownership of the financial asset, or cl the ¢h81ity, de8pi(e having retained Some, bul not all, 8ynificant risks 8nd rewards of ownershlp, has tr8n8ferred control of the asset lo another party. Financial liabilèties ar8 derecognisgd ¢nly whèn th8 obl19al￿n Specified in the contract is di$Gharged, cancelled or expires. D•bt In$twm•nts Debt instrument8 are 8ubsequenlly measured al amortised ¢o$t using the effedive intere81 method. 2 Income from donatlons and 1ggacl•• Unmstrlctèd fund8 Gonoral Re8trlcted fund• Total 2023 Total 2022 t)onations and legacies., Donations from companies, trusts and similar proceeds 2,000 2,000 2,958 2,956 4,956 4,956 3 Income from ch8rltable actlvltles Unre5trict•d funds General Total 2023 Totsl 2022 Charttable activty 239.820 239,820 150,938 Page 10 Woodford Communlty Pre-school Notes to tho Financial Statsments for the Year Ended 31 August 2023 {contlnued) 4 Expendlturo on charltable actlvltles Unrestrfctgd nds General Restrlcted funds Total 2023 Totsl 2022 Not• Charitable activty Depreciation, 8mortisation and other similar co8t8 Allocated sUPPOrt Ost8 193,726 2,956 196,882 175,069 357 357 2,400 196,483 2,400 199.439 2,956 175.069 Anaty818 of •upport Gosts Charltable •ctlvltb•B gxp•ndlture Unr•*trlctgd funds Gènoral Total 2023 Total 2022 Accountancy fees Ind8pendenl ex8mine¢s fee 1.440 960 1,440 960 2,400 2,400 6 Net Incomingloutgolng rnjourc Nel incominglloutgoingl resources for the year include.. 2023 2022 Deprech9tion of fixed a88ets 357 7 Tntste88 r¥rTiun•rJtlon and expen*èJ No Iruslees, nor any persons connected with them, have receNed any remuneration from tho charity during the ygar. No trustees have received any other benefits from the charity during the year. Page 11 Woodford Community Pre-school Notes to the Financial Statements for the Year Ended 31 August 2023 (continued) 8 Taxatlon The charity IB a w1$le￿d ¢haiity and is thereforg exempt from taxallon. 9 Tanglblo flxod assets Furnlture and •qulpm•nt Total Coit Addition5 1.070 1.070 At 31 Augu812023 Dopreclatlon Charge for the year At 31 Augu812023 N•1 book value 1.070 1,070 357 357 357 357 At 31 Augu812023 713 713 10 Cr•dltorn: amounts l•lllng due wlthln one year 2023 2022 Accrual8 2,400 Page 12 Woodford Communlty Pre-school Notes to tho Financial Statsments for the Year Ended 31 August 2023 (contlnued) 11 Funds Bolancfy at 1 S•ptombor 2022 Balance at 31 August 2023 Incorning resources Rgsourcos oxponded Unmstrlctsd fund• Ggneral Funds 63,723 241,820 (196,4831 109,C60 Roltrlcted funds Co•Op8ratNe re8trict8d fund 2,956 12.9561 Total fund• 63.723 244,776 199.439 109.C60 Balance at 1 Sopt•mber 2021 Balance at 31 August 2022 In¢omSng ro•ource8 Resourc88 gxpgndgd Unrebtrlcted fund• General Funds 87,854 150,938 175,069 63,723 12 Anaty81i of net a*sets b•iweon fund• Unre$trl¢t•d funds General Total fund¥ at 31 Au9U8t 2023 Tanglble fixed a588ts Current 88sets Current liabilities 713 110,747 12,4001 109,080 713 110,747 12,4001 Total net as8ets 109,060 Unrg¥trictsd funds Gonernl Total funds t 31 August 2022 Current ossels 83.723 83.723 13 Related party transactions There were no related party transactions in the year. Page 13 Woodford Community Pre-school Detailed Statement of Financial Activities for the Year Ended 31 August 2023 Total 2023 Total 2022 Income and EndowmgTrts from: Donation8 and legacies {an8ty8ed belowl Charitable xtiv*ties lanalysed below) 4,956 239,820 150.938 Total income 244,776 150,938 Exponditurg on: Charitable aclivilies lanatysed ￿lOw) Totsl expenditure 1199,4391 1175,069} 199,439 175,0691 Nel incomell8xpendrture) N•1 movement In funds 45,337 24,131 45,337 124,131} Roconclllatlon of fund¥ Total ftsnd8 brought fow8rd Total funds ¢8rri•¢J forward 63,723 87,854 109060 63,723 This p8ge does not form part of the slalulory financial ststements. Page 14