Digitally Signed Document Document ID: 399CE4D8B205A6
## Document Details
**Filename:** 2024 final Accounts.pdf **Client of:** Hollings Crowe Storr LLP
## Signature Details
|**Name:**|Tom Hebbron|
|---|---|
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|**Email:**|treasurer@menstonpreschool.org|
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|**Date & Time:**|03/12/2024 17:25:41 PM (GMT)|
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|**IP Address:**|212.159.61.110|
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|**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:
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 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.
Page 9
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**
Page 10
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).
Page 11
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|
Page 12
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|
|---|---|---|
Page 13
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.
Page 14
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
Page 15