## **Horringer Pre-School** Report of the Trustees and Unaudited Financial Statements For The Year Ended 31 August 2024 Charity number: 1164658 ## **Horringer Pre-School** **Report and financial statements for the year ended 31 August 2024** ## **Contents** ## **Page:** 1 Statement of Financial Activities 2 Balance Sheet 3 Notes Forming Part of the Financial Statements 7 Report of the Trustees 12 Independent Examiner’s Report ## **Trustees** Ruth Walker - retired 12th November 2023 Rebecca Alderton - retired 12th November 2023 Annabel Howell - retired 12th November 2023 Laura George - retired 12th November 2023 Lucy Opheim - retired 12th November 2023 Emily Beaven - retired 16th January 2025 Carolynne Roberts Lucy Whitelaw Amy Frost Katie Farrance Louise Johnston - appointed 21st September 2023 Leigh Turner - appointed 23rd November 2023 Ioanna Markou - appointed 16th January 2025 ## **Principal Address** Horringer Pre-School Meadow Drive Horringer Bury St Edmunds Suffolk IP29 5SB ## **Charity number** 116465 ## **Horringer Pre School** ## **Statement of Financial Activities** (including income and expenditure account) for the year ended 31 August 2024 |**Note**
**Income and endowments from:**
Donations and legacies
2
Charitable activites
3
Investments
4
**Total**
**Expenditure on:**
Raising funds
5
Charitable activities
6
Other
8
**Total**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**Funds**
(Emergency)
**2024**
**£**
**£**
**£**
**1,955**
**-**
**1,955**
**121,637**
**-**
**121,637**
**455**
**-**
**455**
**124,047**
**-**
**124,047**
**409**
**-**
**409**
**93,730**
**-**
**93,730**
**14,054**
**-**
**14,054**
**108,192**
**-**
**108,192**
**15,855**
**-**
**15,855**
135,007
17,440
**152,447**|**Total**
**Funds**
**2023**
**£**
2,602
104,505
240| |---|---|---| |||107,346
602
107,726
11,714| |||120,042| |||(12,696)| |||165,143| ||**150,862**
**17,440**
**168,302**|152,447| All amounts relate to continuing activities. All gains and losses recognised in the year are included above. 1 ## **Horringer Pre School** ## **Balance Sheet at 31 August 2024** |**FIXED ASSETS**
Tangible assets
**CURRENT ASSETS**
Debtors
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
**NET CURRENT ASSETS**
**NET ASSETS**
**Financed by:**
**Funds of the charity**
Unrestricted funds
Designated funds
Emergency fund|**Notes**
9
10
11
12|108,861
115,242
135
-
63,302
37,957
63,437
37,957
(3,996)
(752)
59,441
37,205
**168,302**
**152,447**
150,862
135,007
17,440
17,440
**168,302**
**152,447**
**2024**
**2023**|108,861
115,242
135
-
63,302
37,957
63,437
37,957
(3,996)
(752)
59,441
37,205
**168,302**
**152,447**
150,862
135,007
17,440
17,440
**168,302**
**152,447**
**2024**
**2023**| |---|---|---|---| ||||| ||||**152,447**| ||||135,007
17,440| ||||**152,447**| The financial statements were approved by the Board of Trustees and authorised for issue on …........................ and were signed on its behalf by: 16/06/2025 **…............................................** **L Whitelaw** 2 ## **Horringer Pre School** ## **Notes forming part of the financial statements** for the year ended 31 August 2024 ## **1 Accounting policies** ## **Basis of preparation** The financial statements of the charity have been prepared in accordance with the Charities SORP '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 and on an accruals basis. ## **Income** All income is recognised in the Statement of Financial Activities once the Charity has received the funds. ## **Expenditure** Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Find 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. ## **Going concern** After making appropriate enquiries and taking into consideration future income streams, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they have adopted a going concern basic in preparing the financial statements. Charity fundraising is ongoing to help support the future of the charity and to finance enhancements to the building. ## **Financial Instruments** The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value, with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **Depreciation** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Buildings 20 years on straight line basis Other assets 5 years on straight line basis The pre school building is the main asset held by the charity. This is kept in good repair to ensure its life remains across the longer terms for the benefit of the local community. ## **2 Donations** |Fundraising
Donations
Autumn raffle
Quiz
Squirrel sprint
Easter raffle
Easy fundraising|Unrestricted
Restricted
**2024**
**2023**
£
£
**£**
£
1,159
-
**1,159**
255
300
-
**300**
146
54
-
**54**
411
-
-
**-**
552
-
-
**-**
740
352
-
**352**
315
90
-
**90**
183| |---|---| ||1,955
-
**1,955**
2,602| 3 ## **Horringer Pre School** ## **Notes forming part of the financial statements** for the year ended 31 August 2024 ## **3 Charitable activities** |Fees - lunches
Fees - sessions
Funding income
SEN funding
Uniform sales
Consumables charge|Unrestricted
Restricted
**2024**
**2023**
£
£
**£**
£
5,943
-
**5,943**
5,121
16,492
-
**16,492**
25,614
93,704
-
**93,704**
68,406
2,500
-
**2,500**
2,618
112
-
**112**
366
2,886
-
**2,886**
2,380| |---|---| ||121,637
-
**121,637**
104,505| |**4**
**Investment income**
Bank Interest received
**5**
**Raising funds**
Advertising & promotional
Event costs|Unrestricted
Restricted
**2024**
**2023**
£
£
**£**
£
455
-
**455**
240| |---|---| ||455
0
**455**
240| ||Unrestricted
Restricted
**2024**
**2023**
£
£
**£**
£
363
-
**363**
531
46
-
**46**
71| ||409
-
**409**
602| ## **6 Charitable activities - maintenance and development** |Staff costs, training & pensions
Premises costs
Teaching materials & consumables
Utilities
Staff costs are made up as follows:
Gross wages & salaries
Pension costs
Other employment costs|Unrestricted
Restricted
£
£
81,082
-
4,504
-
4,758
-
3,386
-|**2024**
2023
**£**
£
**81,082**
92,333
**4,504**
9,445
**4,758**
3,443
**3,386**
2,505| |---|---|---| ||93,730
-|**93,730**
107,726| |||**77,891**
88,967
**2,108**
2,591
**1,083**
775| |||**81,082**
**92,333**| No employees received salary or benefits in excess of £60,000. ## **7 Employee numbers** The average number of employees during the year was 6 (2023: 7). 4 ## **Horringer Pre School** ## **Notes forming part of the financial statements** for the year ended 31 August 2024 ## **8 Other costs** |**Other costs**|| |---|---| |Office costs
Bank charges
Depreciation|Unrestricted
Restricted
**2024**
2023
£
£
**£**
£
7,246
-
**7,246**
5,365
63
-
**63**
63
6,745
-
**6,745**
6,286| ||14,054
-
**14,054**
11,714| ## **9 Tangible Assets** |**Cost or valuation**
At 1 September 2023
Additions
At5 31 August 2024
**Depreciation**
At 1 September 2023
Provided for the year
At 31 August 2024
**Net Book value**
At 31 August 2024
At 31 August 2023
**10**
**Debtors**
Other debtors
Prepayments
**11**
**Creditors: amounts falling due within one year**
PAYE, NI and pensions
Trade creditors
Accruals|**Building**
**£**
126,448
-|**Fixtures &**
**fittings**
**Total**
**£**
**£**
1,752
128,200
364
364| |---|---|---| ||126,448|2,116
128,564| ||12,328
6,322|630
12,958
423
6,745| ||18,650|1,053
19,703| |||| ||107,798|1,063
108,861| |||| ||114,120|1,122
115,242| |||**2024**
2023
**£**
**£**
**135**
-
**-**
-| |||**135**
-| |||**2024**
2023
**£**
£
**1,359**
752
**849**
-
**1,788**
-| |||**3,996**
752| 5 ## **Horringer Pre School** ## **Notes forming part of the financial statements** for the year ended 31 August 2024 ## **12 Movement in funds** |**Movement in funds**|||||| |---|---|---|---|---|---| |||**Balance**|||**Balance**| |||**1 Sept**|||**31 Aug**| |||**2023**|**Expenditure**|**Income**|**2024**| |||**£**|**£**|**£**|**£**| |Unrestricted funds||135,007|(108,192)|124,047|150,862| |Designated funds|(Emergency)|17,440|-|-|17,440| |||152,447|(108,192)|124,047|168,302| ## **13 Trustees' remuneration and benefits** During the year the following trustees received remuneration in the course of their employment with the charity: |Katie Farrance
Louise Johnstone
Ruth Walker|**2024**
2023
**£**
£
**16,461**
15,870
**22,434**
-
**1,492**
4,611| |---|---| ||**40,387**
20,481| In addition, Lucy Whitelaw received payments totally £3,273 (2023 : £3,428) for the provision of administrative services. ## **14 Independent examiners fee** During the year the independent examiners fee amounted to £1,788 (2023 £nil). 6 ## **Horringer Pre-School** ## **Report of the Trustees for the Year Ended 31 August 2024** The Trustees present their report and the unaudited financial statements for the year ended 31 August 2024. ## **Status and administration** Horringer Pre-School is a Charitable Incorporated Organisation, governed by its Memorandum and Articles of Association. It was incorporated on 16 November 2011 and registered with the Charity Commission on 2 December 2015. Our constitution was updated on 1 November 2018, in advance of our new community building that was installed in August 2020. The charity works for the public benefit and its objective is the development and education of children aged 2-5 years. This is achieved by: - Promoting their care and safety - Promoting their education and parental involvement in this - Promoting their health and wellbeing - Providing a service to support the children, their families and carers Where possible the Pre-School also looks to support other local organisations and will work for the public benefit to aid the development and education of local residents of all ages to help: - Reduce social exclusion - Providing multi-generational interaction - Offer lifelong learning The Trustees who served throughout the year were: Ruth Walker - retired 12th November 2023 Rebecca Alderton - retired 12th November 2023 Annabel Howell - retired 12th November 2023 Laura George - retired 12th November 2023 Lucy Opheim - retired 12th November 2023 Emily Beaven - retired 16th January 2025 Carolynne Roberts Lucy Whitelaw Amy Frost Katie Farrance Louise Johnston - appointed 21st September 2023 7 Leigh Turner - appointed 23rd November 2023 Ioanna Markou - appointed 16th January 2025 Our inclusion of Trustees is highly monitored as we have to comply with the guidelines set out by Ofsted for individuals involved in a childcare setting. One of our trustees (currently Ruth Walker) acts as the 8Nominated Person9 for Ofsted and is their main contact point. All new trustees are provided with a Trustee Guide and given information on the role they will be undertaking and how to apply for a DBS check and inform Ofsted of their involvement with the charity. For the financial year under review two of our Trustees were also employed by the PreSchool outside the scope of their role as trustee. These were Lousie Johnston the PreSchool Manager, Katie Farrance Pre-School Practitioner. ## **Structure, governance and management** The work of Horringer Pre-School is carried out by the Management Committee made up of the current Trustees named above. The Management Committee meets approximately once every half term. All committee members give their time voluntarily and receive no benefits from the charity. Between them they have the skills needed to run the Pre-School. In the event of retirements from the committee leading to the loss of specific skills, new committee members with those skills are sought locally. In accordance with the Articles of the Association, one third of the Trustees must retire at each Annual General Meeting. They should be the Trustees who have been longest in office since their last appointment. Assuming they remain eligible, Trustees are able to offer themselves for re-election. Any Trustee appointed during the year by a resolution of the other Trustees must also retire at the AGM following their appointment. ## **Activities** The main activity undertaken by the charity is the provision of childcare for children in the local area. Day to day activities include craft, news and story time, refreshment break (where some of the children help to prepare the snacks) and outdoor play in our copse area and soft floored play area which includes a sandpit, climbing frame, mud kitchen and free access to bicycles. Children are allowed free access to a range of toys throughout the sessions such as farms, trains, cars, dolls, toy kitchen and den area. The staff work with the children whilst they play to develop the areas of learning specified by the Early Years Foundation Stage. In carrying out the activities, the Trustees believe they have complied with their duty with regard to the Charity Commission9s guidance on Public Benefit. ## **Objectives** The charity has in place an Improvement Plan, in line with the Early Years Foundation Stage framework, to help ensure the charity meets its objective to provide the best possible 8 support to its families and children, as well as incorporating the vision for the charity noted below. ## **Mission Statement** The charity put in place a mission statement to help the committee focus the efforts of the team and the business as a whole. This included 4 key words, _Embrace, Nurture, Achieve and Thrive_ to help people understand the charity9s dedication and commitment to Early Years Education. The statement is as follows: _Horringer Preschool’s dedicated team of staff and trustees’ welcome children from 2 years to school age. Together with parents, carers and children we are committed to providing high quality provision in a purpose-built building. Our professional and caring staff build strong positive relationships to best understand the needs of our families, creating a friendly, fun environment for all. We firmly believe that learning through play, stories and songs is crucial, play motivates children to learn and love learning._ _We work within the Early Years Foundation Stage promoting the learning, development and the safety of all children. Woodland play encourages confidence, self-esteem and exploratory play whilst at one with nature. Our herb and vegetable garden promotes life skills and the importance of healthy routines. Indoors, children can enjoy the tranquillity of our sensory relaxation room or choose from a wide variety of activities tailored to individual needs, encouraging all young minds to reach their full potential. Staff give high regard to children’s wellbeing, giving them the tools they need to recognise, understand, and express their emotions._ ## _**Our Vision**_ _Horringer Preschool is proud to have reflective practitioners who believe that investing time and care in all children from the very beginning, helps lay down the strong foundations needed for growth. Being a positive influence in their lives at such a crucial early stage will help them become confident, curious individuals with bright future life paths._ ## **Financial Review** 9 Treasurer s Financial Report for Horringer Pre-School to 31 August 2024 This report should be read in conjunction with the unaudited financial statements for the year ended 31 August 2024. ## **Income** Income from the Pre-School9s primary service of providing Early Years Education was £121,637. Additional income of £2,410 was generated through fundraising and investment income which has predominantly been used towards improvements to the Pre-School9s outdoor space. ## **Expenditure** Expenditure on the Pre-School9s primary service was £108,192 and included: 9 - Insurances and Ofsted fees. - Utility bills, licences, electrician9s bills and fundraising costs. - Consumables such as children9s snacks, art and craft products and sanitary items. - Specific staff training and staff wages. ## **Depreciation** The charity first started to account for depreciation in the 2021/22 financial year, after the full completion of a new building. It was agreed to account for depreciation on all fixed assets, as well as the new building, assuming a 20 year life span. Total depreciation for the 2023/24 year was £6,745. ## **Profit/loss** Including the provision for depreciation mentioned above, the charity made a financial surplus of £15,855. ## **Balance Sheet** Taking into account the depreciation of assets and the profit made in the 2023/24 financial year, there is an increase in the value of the charity9s assets, now valued at £168,302. ## **Future** The charity is very much looking to the future. The charity is training a new Special Educational Needs Co-Ordinator to help support these children, as well as looking for diverse and appropriate ways to support these families. Additionally, and where possible, the charity is taking appropriate steps to support low income families. The charity will also be looking to increase its fundraising capabilities to help meet ad hoc and unexpected costs of running the setting. New staff members and trustees will also be looking to build closer relationships with other local Pre-Schools and the local authority, as a means of sharing best practice and ideas, both educationally and financially. ## **Trustees’ Responsibilities** The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with the Charities Statement of Recommended Practice (SORP) and other relevant legislation and for being satisfied that the financial statements give a true and fair view. The Trustees are also responsible for preparing the financial statements in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to: - Select suitable accounting policies and then apply them consistently; - Make judgments and estimates that are reasonable and prudent; - State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that show and explain the charity9s transactions, disclose with reasonable accuracy at any time the 10 financial position of the charity, and enable them to ensure that the financial statements comply with the Charities SORP. 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. ## **Signed on behalf of Trustees** Lucy Whitelaw Lucy Whitelaw Date 12th June 2025 11 ## **Independent examiner's report to the trustees of Horringer Pre-School** We report to the charity trustees on our examination of the financial statements of the charity for the year ended 31 August 2024 which comprise the statement of financial activities, balance sheet and the related notes set out on pages 1 to 11. ## **Responsibilities and basis of report** The trustees are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (