Digitally Signed Document Document ID: 399CE4D8B205A6
Document Details
Filename: 2024 final Accounts.pdf Client of: Hollings Crowe Storr LLP
Signature Details
| Name: | Tom Hebbron |
|---|---|
| Email: | treasurer@menstonpreschool.org |
| Date & Time: | 03/12/2024 17:25:41 PM (GMT) |
| IP Address: | 212.159.61.110 |
| Signing Statement: | Tom Hebbron agrees and approves the contents of this document. |
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| On behalf of: | Hollings Crowe Storr LLP |
|---|---|
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REGISTERED CHARITY NUMBER: 1164354
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2024
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 2024
| 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 |
Menston Pre School
Report of the Trustees for the Year Ended 31 March 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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 Admissions 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.
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 2023/24 Preschool make capital purchases of £10,693 including new furniture and computer equipment.
As stated above volunteers contributed significantly to delivering an events timetable and as a charity.
Page 1
Menston Pre School
Report of the Trustees
for the Year Ended 31 March 2024
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 £7,761. 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 the year in person and online. 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.
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 being able to regularly review and increase pay supports our objectives to attract and retain high quality staff. Trustees undertook a pay review in December 2023 and were able to award a pay rise to all staff, backdated to September 2023 to provide a cost-of-living increase before Christmas.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
CIAO 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
Page 2
Menston Pre School
Report of the Trustees for the Year Ended 31 March 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
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;
Turnover year on year may fluctuate due to changes in the local demand for preschool places, economic pressures on families, and competition from providers offering wrap-around and holiday care. As Preschool does not provide these services, there remains a risk that some parents will not choose Preschool as their childcare provider.
Ensuring a sustainable staffing model remains a key priority. The Manager continues to upskill staff to Leader level to future-proof Preschool's operations.
While fundraising events have resumed without the restrictions seen during the COVID-19 pandemic, income generation remains lower than pre-pandemic levels due to changing community participation patterns and economic uncertainty.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1164354
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 A Phillips Mrs C Worthington Mrs F Mashayekh
Independent Examiner
Hollings Crowe Storr LLP 14 Beech Hill Otley West Yorkshire LS21 3AX
Page 3
Menston Pre School
Report of the Trustees for the Year Ended 31 March 2024
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 2024.
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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities 3 General 162,184 Restricted - Other trading activities 2 8,230 Total 170,414 EXPENDITURE ON Charitable activities 4 General 155,135 NET INCOME 15,279 RECONCILIATION OF FUNDS Total funds brought forward 144,545 TOTAL FUNDS CARRIED FORWARD 159,824 |
Restricted fund £ - - - - - - 9,799 9,799 |
31.3.24 Total funds £ 162,184 - 8,230 170,414 155,135 15,279 154,344 169,623 |
31.3.23 Total funds £ 133,959 8,380 8,895 151,234 131,618 19,616 134,728 154,344 |
|---|---|---|---|
The notes form part of these financial statements
Page 6
Menston Pre School
Balance Sheet 31 March 2024
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 9 15,655 CURRENT ASSETS Stocks 10 367 Debtors 11 1,862 Cash at bank 151,274 153,503 CREDITORS Amounts falling due within one year 12 (9,334) NET CURRENT ASSETS 144,169 TOTAL ASSETS LESS CURRENT LIABILITIES 159,824 NET ASSETS 159,824 FUNDS 13 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - - - 9,799 9,799 - 9,799 9,799 9,799 |
31.3.24 Total funds £ 15,655 367 1,862 161,073 163,302 (9,334) 153,968 169,623 169,623 159,824 9,799 169,623 |
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 |
|---|---|---|---|
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 2024
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 exemption 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 2024
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.
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continued...
Menston Pre School
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
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 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 |
31.3.24 £ 7,761 469 8,230 31.3.24 £ 383 124,835 36,966 - 162,184 31.3.24 £ - |
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 |
|---|---|---|
3. INCOME FROM CHARITABLE ACTIVITIES
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continued...
Menston Pre School
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
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) £ 155,135 31.3.24 31.3.23 £ £ 121,094 99,301 12,801 12,000 1,592 1,554 776 724 3,196 4,103 181 180 7,223 6,275 6,338 5,082 1,934 2,399 155,135 131,618 |
|---|---|
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
7. STAFF COSTS
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 120,301 | 97,369 |
The average head count of employees during the year was 14 (2023: 13).
No employee received employee benefits of more than £60,000 during the year (2023: £60,000).
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continued...
Menston Pre School
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
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 2023 28,170 Additions 9,788 At 31 March 2024 37,958 DEPRECIATION At 1 April 2023 17,074 Charge for year 5,968 At 31 March 2024 23,042 NET BOOK VALUE At 31 March 2024 14,916 At 31 March 2023 11,096 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 2023 28,170 Additions 9,788 At 31 March 2024 37,958 DEPRECIATION At 1 April 2023 17,074 Charge for year 5,968 At 31 March 2024 23,042 NET BOOK VALUE At 31 March 2024 14,916 At 31 March 2023 11,096 10. STOCKS Stocks |
2024 £ 695 |
2023 £ 660 |
|---|---|---|---|
| Fixtures and fittings £ 28,170 9,788 37,958 17,074 5,968 23,042 14,916 11,096 |
Computer equipment £ 1,841 905 2,746 1,637 370 2,007 739 204 31.3.24 £ 367 |
Totals £ 30,011 10,693 40,704 18,711 6,338 25,049 15,655 11,300 31.3.23 £ 232 |
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continued...
Menston Pre School
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
| 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Taxation and social security Other creditors 13. MOVEMENT IN FUNDS At 1.4.23 £ Unrestricted funds General fund 144,545 Restricted funds Restricted Fund 9,799 TOTAL FUNDS 154,344 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 170,414 TOTAL FUNDS 170,414 |
31.3.24 £ 1,862 31.3.24 £ 7,849 347 1,138 9,334 Net movement in funds £ 15,279 - 15,279 Resources expended £ (155,135) (155,135) |
31.3.23 £ 778 31.3.23 £ 2,979 - 1,069 4,048 At 31.3.24 £ 159,824 9,799 169,623 Movement in funds £ 15,279 15,279 |
|---|---|---|
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continued...
Menston Pre School
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net Transfers movement between At 1.4.22 in funds funds £ £ £ Unrestricted funds General fund 128,689 11,236 4,620 Restricted funds Restricted Fund 6,039 8,380 (4,620) TOTAL FUNDS 134,728 19,616 - Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 142,854 (131,618) Restricted funds Restricted Fund 8,380 - TOTAL FUNDS 151,234 (131,618) |
At 31.3.23 £ 144,545 9,799 154,344 Movement in funds £ 11,236 8,380 19,616 |
|---|---|
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
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Menston Pre School
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
| INCOME AND ENDOWMENTS Other trading activities Fundraising events Clothing sales Charitable activities Milk refunds Nursery education Subscriptions Parish Council Grants 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 Total resources expended Net income |
31.3.24 £ 7,761 469 8,230 383 124,835 36,966 - 162,184 170,414 120,494 600 12,801 1,592 776 3,196 181 7,223 5,968 370 1,934 155,135 155,135 15,279 |
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 2,399 131,618 131,618 19,616 |
|---|---|---|
This page does not form part of the statutory financial statements
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