**REGISTERED CHARITY NUMBER: 1164354**
## Report of the Trustees and
## Unaudited Financial Statements for the Year Ended 31 March 2023
## for
## Menston Pre School
Hollings Crowe Storr LLP 14 Beech Hill Otley West Yorkshire LS21 3AX
Menston Pre School
Contents of the Financial Statements for the Year Ended 31 March 2023
||Page|
|---|---|
|Report of the Trustees|1 to 4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8 to 14|
|Detailed Statement of Financial Activities|15 to 16|
Menston Pre School
for the Year Ended 31 March 2023
## Report of the Trustees
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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**
Menston Preschool believes that children learn best through play and welcomes children aged 2 and a half to 4 (school age). We adhere to the EYFS statutory guidance and follow the curriculum.
## **Significant activities**
Menston Preschool opens Monday to Friday during term time only. Places are available for children within the Menston area. We follow an Admission’s Policy in order to keep enrolment fair.
Each child is supported within the 7 areas of learning as set out in the EYFS. A key person is allocated to each child and this person oversees learning and liaises regularly with the child’s family. The management team oversee this process and external professionals are involved as and when deemed necessary.
We operate on an ‘in the moment planning’ basis where children’s interests are extended and enhanced through quality interaction and ‘teachable moments’ with a highly qualified staff team.
All trustees have been inducted to the guidance issued by the Charity Commission on public benefit as part of their induction.
Page 1
Menston Pre School
Report of the Trustees for the Year Ended 31 March 2023
## **OBJECTIVES AND ACTIVITIES**
The trustees form a management committee who are all volunteers from the local community. The contribution by volunteers for Menston Preschool is significant.
The Events Team host a number of events within the year where volunteers undertake all tasks to deliver the events successfully. Covid restrictions have impacted the number and attendance of events over the past two years, but our regular Christmas and summer events have returned, as well as new events developed during the pandemic period.
In 2022/23 Preschool make capital purchases of £10,806.76 in improvements to the outdoor area and Printer purchase.
As stated above volunteers contributed significantly to delivering an events timetable and as a charity, we have also received several donations from corporations.
Fundraising income 2022-23
||Income|Outgoings/costs|Total profit|
|---|---|---|---|
|Yearbooks|£310.00|£148.50|£161.50|
|Amazon Smile|£20.79|£0.00|£20.79|
|Teatowels|£299.00|£193.30|£105.70|
|Goodie Bags|£94.00|£0.00|£94.00|
|Halloween|£505.15|£75.05|£430.10|
|Summer|£550.39|£149.94|£400.45|
|Donations|£100.00|£0.00|£100.00|
|Mooch|£2,032.12|£1,059.43|£972.69|
|Mentonbury|£3,308.09|£1,470.79|£1,837.30|
|Nearly new sale|£1,286.02|£130.92|£1,155.10|
|Total|£8,505.56|£3,227.93|£5,277.63|
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
As stated above we have further invested in improving our outdoor space. Plans for capital investment in improvements to the building have begun, but were not finalised in this financial year.
Fundraising this year has totalled £5,277.63. This is a credit to the trustees and staff who have worked to run events acknowledging ongoing Covid concerns.
Training of staff has continued through a year of operating in Covid restrictions. Staff have completed online training where possible. This includes SEN training, leadership and management, IT, safeguarding updates and the mandatory updated EYFS framework training.
## **FINANCIAL REVIEW**
## **Financial position**
Operating costs for one term (approx. 4 months) plus redundancy costs are maintained and regularly reviewed. This was reviewed in detail again as part of trustee’s management of the Covid 19.
Page 2
Menston Pre School
Report of the Trustees for the Year Ended 31 March 2023
## **FINANCIAL REVIEW**
Our principal sources of funding are the NEF from Bradford Metropolitan Council and fees paid by parents.
As stated above the trustees are committed to maintaining a minimum of operating costs for one term (approx. 4 months) plus redundancy costs.
Staff are highly valued at Preschool and to be able to increase hourly rates supports our objectives to attract and retain high quality staff. Trustees agreed to review pay in September in the new academic year in recognition of the increased cost of living.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
CIO Constitution for Childcare Providers 2013
## **Charity constitution**
Menston Preschool is constituted with a Chair and trustees committee. With the Manager and senior staff reporting into and accountable to the committee. The committee meets once every half term (6 times per year, one AGM and extraordinary meetings when required).
## **Recruitment and appointment of new trustees**
Appointed at the annual AGM by existing trustees and membership
New Committee members are inducted by the Nominated Person and/or Business Manager who also, along with the Chair, provides support to the other trustees. The Manager, the Business Manager report to the Committee. The remainder of staff report to the Manager.
We work closely with the charity Kirkland’s Trust from whom we rent our accommodation. We both have a clear vision to serve the community.
## Risks;
The unprecedented and continuing affect Covid 19 will have on our setting and that of the wider community. We will continue to follow government guidance. However turnover year on year could continue to drop if the setting closes and non-grant fees and voluntary contributions can no longer be billed to parents.
As Preschool does not provide wrap around/holiday care, there is the continued risk parents will not choose Preschool as a childcare provider.
Sustainability and future proofing the staff model remains a risk. The Manager has plans in place to upskill more staff to Leader level to ensure future stability of Preschool.
Fund raising events continue; however, income generated is limited (compared to previous years) due to Covid restrictions and uncertainty.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1164354
Page 3
Menston Pre School
## Report of the Trustees
for the Year Ended 31 March 2023
## **Principal address**
Kirklands Community Centre Kirklands Main Street, Menston Ilkley West Yorkshire LS29 6HT
## **Trustees**
T E Hebbron Mrs G Cresswell-Porter Mrs E Newitt Mrs H Pratt (resigned 3.11.22) Mrs A Hunter (resigned 3.11.22) Mrs A Phillips Mrs C Worthington (appointed 3.11.22) Mrs F Mashayekh (appointed 3.11.22)
## **Independent Examiner**
Hollings Crowe Storr LLP 14 Beech Hill Otley West Yorkshire LS21 3AX
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
............................................................ T E Hebbron - Trustee
Page 4
Independent Examiner's Report to the Trustees of Menston Pre School
## **Independent examiner's report to the trustees of Menston Pre School**
I report to the charity trustees on my examination of the accounts of Menston Pre School (the Trust) for the year ended 31 March 2023.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Anthony Bradbury
Hollings Crowe Storr LLP 14 Beech Hill Otley West Yorkshire LS21 3AX
Date: .............................................
Page 5
Menston Pre School
## Statement of Financial Activities for the Year Ended 31 March 2023
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
-
**Charitable activities**
3
General
133,959
Restricted
-
Other trading activities
2
8,895
Other income
-
**Total**
142,854
**EXPENDITURE ON**
**Charitable activities**
4
General
131,618
**NET INCOME**
11,236
**Transfers between funds**
13
4,620
**Net movement in funds**
15,856
**RECONCILIATION OF FUNDS**
Total funds brought forward
128,689
**TOTAL FUNDS CARRIED FORWARD**
144,545|Restricted
fund
£
-
-
8,380
-
-
8,380
-
8,380
(4,620)
3,760
6,039
9,799|31.3.23
Total
funds
£
-
133,959
8,380
8,895
-
151,234
131,618
19,616
-
19,616
134,728
154,344|31.3.22
Total
funds
£
140
122,336
-
4,400
96
126,972
125,552
1,420
-
1,420
133,308
134,728|
|---|---|---|---|
The notes form part of these financial statements
Page 6
Menston Pre School
## Balance Sheet
## 31 March 2023
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
9
11,300
**CURRENT ASSETS**
Stocks
10
232
Debtors
11
778
Cash at bank
136,283
137,293
**CREDITORS**
Amounts falling due within one year
12
(4,048)
**NET CURRENT ASSETS**
133,245
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
144,545
**NET ASSETS**
144,545
**FUNDS**
13
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
fund
£
-
-
-
9,799
9,799
-
9,799
9,799
9,799|31.3.23
Total
funds
£
11,300
232
778
146,082
147,092
(4,048)
143,044
154,344
154,344
144,545
9,799
154,344|31.3.22
Total
funds
£
5,576
232
1,700
128,572
130,504
(1,352)
129,152
134,728
134,728
128,689
6,039
134,728|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. E Newitt - Trustee
............................................. T E Hebbron - Trustee
The notes form part of these financial statements
Page 7
Menston Pre School
Notes to the Financial Statements for the Year Ended 31 March 2023
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
## **Income**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Legacy income is recognised when receipt is probable and entitlement is established.
Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
## **Expenditure**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
Expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
Page 8
continued...
Menston Pre School
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
## **1. ACCOUNTING POLICIES - continued**
## **Expenditure**
Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## **Tangible fixed assets**
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment - 33% straight line Fixtures and fittings - 25% straight line
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from 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.
Page 9
continued...
Menston Pre School
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
## **1. ACCOUNTING POLICIES - continued**
## **Financial instruments**
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted
## **2. OTHER TRADING ACTIVITIES**
|Fundraising events
Clothing sales
**3.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Milk refunds
General
Nursery education
General
Subscriptions
General
Parish Council Grants
Restricted
Grants received, included in the above, are as follows:
Parish Council Grant|31.3.23
£
8,522
373
8,895
31.3.23
£
571
98,138
35,250
8,380
142,339
31.3.23
£
8,380|31.3.22
£
4,043
357
4,400
31.3.22
£
168
92,460
29,708
-
122,336
31.3.22
£
-|
|---|---|---|
Page 10
continued...
Menston Pre School
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
## **4. CHARITABLE ACTIVITIES COSTS**
|General
**5.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Staff costs
Rent
Insurance
Telephone
Direct fundraising
Computer
Milk, snacks and consumables
Depreciation
Accountancy and legal fees|Direct
Costs (see
note 5)
£
131,618
31.3.23
31.3.22
£
£
99,301
98,509
12,000
10,998
1,554
1,404
724
760
4,103
1,566
180
304
6,275
5,329
5,082
4,705
2,399
1,977
131,618
125,552|
|---|---|
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **7. STAFF COSTS**
The total staff costs and employee benefits for the reporting period are analysed as follows:
||2023|2022|
|---|---|---|
||£|£|
|Wages and salaries|97,369|98,188|
||||
The average head count of employees during the year was 13 (2022: 13).
No employee received employee benefits of more than £60,000 during the year (2022: £60,000).
Page 11
continued...
Menston Pre School
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
## **8. INDEPENDENT EXAMINATION FEES**
|Fees payable to the independent examiner for independent
examination of the financial statements
**9.**
**TANGIBLE FIXED ASSETS**
Fixtures
and
fittings
£
**COST**
At 1 April 2022
17,568
Additions
10,602
At 31 March 2023
28,170
**DEPRECIATION**
At 1 April 2022
12,538
Charge for year
4,536
At 31 March 2023
17,074
**NET BOOK VALUE**
At 31 March 2023
11,096
At 31 March 2022
5,030
**10.**
**STOCKS**
Stocks|Fees payable to the independent examiner for independent
examination of the financial statements
**9.**
**TANGIBLE FIXED ASSETS**
Fixtures
and
fittings
£
**COST**
At 1 April 2022
17,568
Additions
10,602
At 31 March 2023
28,170
**DEPRECIATION**
At 1 April 2022
12,538
Charge for year
4,536
At 31 March 2023
17,074
**NET BOOK VALUE**
At 31 March 2023
11,096
At 31 March 2022
5,030
**10.**
**STOCKS**
Stocks|2023
£
660|2022
£
660|
|---|---|---|---|
||Fixtures
and
fittings
£
17,568
10,602
28,170
12,538
4,536
17,074
11,096
5,030|Computer
equipment
£
1,637
204
1,841
1,091
546
1,637
204
546
31.3.23
£
232|Totals
£
19,205
10,806
30,011
13,629
5,082
18,711
11,300
5,576
31.3.22
£
232|
Page 12
continued...
Menston Pre School
## Notes to the Financial Statements - continued for the Year Ended 31 March 2023
|**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
**13.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.4.22
in funds
£
£
**Unrestricted funds**
General fund
128,689
11,236
**Restricted funds**
Restricted Fund
6,039
8,380
**TOTAL FUNDS**
134,728
19,616
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
142,854
**Restricted funds**
Restricted Fund
8,380
**TOTAL FUNDS**
151,234|31.3.23
£
778
31.3.23
£
2,979
1,069
4,048
Transfers
between
funds
£
4,620
(4,620)
-
Resources
expended
£
(131,618)
-
(131,618)|31.3.22
£
1,700
31.3.22
£
270
1,082
1,352
At
31.3.23
£
144,545
9,799
154,344
Movement
in funds
£
11,236
8,380
19,616|
|---|---|---|
Page 13
continued...
Menston Pre School
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
## **13. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|Net
movement
At 1.4.21
in funds
£
£
**Unrestricted funds**
General fund
127,269
1,420
**Restricted funds**
Restricted Fund
6,039
-
**TOTAL FUNDS**
133,308
1,420
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
126,972
(125,552)
**TOTAL FUNDS**
126,972
(125,552)|At
31.3.22
£
128,689
6,039
134,728
Movement
in funds
£
1,420
1,420|
|---|---|
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2023.
Page 14
Menston Pre School
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Voluntary income
**Other trading activities**
Fundraising events
Clothing sales
**Charitable activities**
Milk refunds
Nursery education
Subscriptions
Parish Council Grants
**Other income**
Furlough
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Staff training
Rent
Insurance
Telephone
Direct fundraising
Computer
Milk, snacks and consumables
Depn of fixtures & fittings
Depn of computer equipment
Accountancy and legal fees|31.3.23
£
-
8,522
373
8,895
571
98,138
35,250
8,380
142,339
-
151,234
97,369
1,932
12,000
1,554
724
4,103
180
6,275
4,536
546
2,399
131,618|31.3.22
£
140
4,043
357
4,400
168
92,460
29,708
-
122,336
96
126,972
98,188
321
10,998
1,404
760
1,566
304
5,329
4,159
546
1,977
125,552|
|---|---|---|
This page does not form part of the statutory financial statements
Page 15
Menston Pre School
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
|Total resources expended
**Net income**|31.3.23
£
131,618
19,616|31.3.22
£
125,552
1,420|
|---|---|---|
This page does not form part of the statutory financial statements
Page 16