**Charity number: 1164768**
## **STOREHOUSE COMMUNITY TRUST**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2023**
## **STOREHOUSE COMMUNITY TRUST**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 3|
|**Independent Examiner's Report**|4 - 5|
|**Statement of Financial Activities**|6|
|**Balance Sheet**|7|
|**Notes to the Financial Statements**|8 - 14|
**STOREHOUSE COMMUNITY TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2023**
## **Trustees**
Michael John Smither (Treasurer) Gwyn Pritchard (Chair) Jennifer Ann Holman (Secretary) Margaret Edna Pritchard
**Charity registered number Principal office**
1164768
Stonecroft Main Street Northampton NN7 4HS
Page 1
**STOREHOUSE COMMUNITY TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2023**
The Trustees present their annual report together with the financial statements of the STOREHOUSE COMMUNITY TRUST for the year 1 September 2022 to 31 August 2023.
The Trust is responsible for Little Fishes Pre-School and various other activities as occur.
The setting started the new academic year with 30 children attending, 7 children having a range of additional/complex needs. In addition 2 children have an Educational Health Care Plan (EHCP) for which additional funding is being received. The term started with 6 members of staff, but an additional member was recruited and started in October.
Staffing has had its challenges over the year with staff illnesses and the Deputy Manager, Abigail Pearson, taking maternity leave from March 2023 (and we congratulate her and her husband on the birth of a healthy baby girl). A senior worker, Jess Bentley was invited to cover the Deputy Manager (including SENDCO role) position for the duration of the maternity leave. She accepted and did an excellent job in supporting the Manager.
The Manager, Barbara Jones, indicated her plans to retire at the end of the academic year in July after a considerable number of years in the position. The position of Manager was advertised, and following interview the current Deputy Manager was duly appointed to commence in the role of Manager from September 2023. This subsequently meant that we needed to advertise for a new deputy Manager and again following interview the current acting Deputy Manager was appointed to the post as from September.
4 members of staff and one Trustee attended First Aid training in November and other training on epilepsy, preschool curriculum and mathematics was provided for all staff. Noodle continues to provide a range of other training resources during the year.
The year ended with a celebration party to mark the retirement of the Manager, Barbara Jones. The event was well attended by past and present Trustees, parents and children. As Trustees we are very grateful for the dedication, expertise and faithfulness of Barbara over many years and we wish her a happy retirement. Financially, the Trustees acknowledge the deficit which was due mainly to reduced income from West Northants District Council. This figure, which is based on the number of children attending the setting throughout the year and their individual needs, was lower than usual but projections for the forthcoming academic year suggest it will rise again. The Trustees are continuing to examine expenditure to see if any savings can be made. On the positive side Little Fishes did receive a generous donation of £2000 from a grateful family.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
G. Pritchard
Chair 24.10.22
## **a. Going concern**
After making appropriate enquiries, 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 continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Page 2
## **STOREHOUSE COMMUNITY TRUST**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023**
## **Structure, governance and management a. Constitution**
STOREHOUSE COMMUNITY TRUST is a registered charity, number 1164768, and is constituted under a Trust deed.
## **b. Methods of appointment or election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales 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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) 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 are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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.
Approved by order of the members of the board of Trustees on 30 November 2023 and signed on their behalf by:
**Michael John Smither (Treasurer)**
Page 3
**STOREHOUSE COMMUNITY TRUST**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2023**
## **Independent Examiner's Report to the Trustees of STOREHOUSE COMMUNITY TRUST ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2023.
## **Responsibilities and Basis of Report**
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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 Charity as required by section 130 of the 2011 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 30 November 2023
Page 4
**STOREHOUSE COMMUNITY TRUST**
## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023**
## **Kolade Andrew Alli ACMA**
10 Gatcombe Gardens West End, Hampshire SO18 3NA
Page 5
**STOREHOUSE COMMUNITY TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023**
|**Note**
**Income from:**
Donations and legacies
2
**Total income**
**Expenditure on:**
Charitable activities
3
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
**121,373**
**121,373**
**136,206**
**136,206**
**(14,833)**
**136,392**
**(14,833)**
**121,559**|**Total**
**funds**
**2023**
**£**
**121,373**
**121,373**
**136,206**
**136,206**
**(14,833)**
**136,392**
**(14,833)**
**121,559**|_Total_
_funds_
_2022_
_£_
_138,248_|
|---|---|---|---|
||||_138,248_|
||||_134,274_|
||||_134,274_|
||||_3,974_|
||||_132,418_
_3,974_|
||||_136,392_|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 to 14 form part of these financial statements.
Page 6
## **STOREHOUSE COMMUNITY TRUST**
## **BALANCE SHEET AS AT 31 AUGUST 2023**
|**Fixed assets**
**Note**
Tangible assets
6
**Current assets**
Cash at bank and in hand
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
7
Unrestricted funds
7
**Total funds**|**120,437**
**120,437**|**2023**
**£**
**1,122**
**1,122**
**120,437**
**121,559**
**121,559**
**121,559**
**-**
**121,559**
**121,559**|_134,896_
_134,896_|_2022_
_£_
_1,496_|
|---|---|---|---|---|
|||||_1,496_
_134,896_|
|||||_136,392_|
|||||_136,392_|
|||||_136,392_|
|||||_-_
_136,392_|
|||||_136,392_|
The financial statements were approved and authorised for issue by the Trustees on 30 November 2023 and signed on their behalf by:
## **Michael John Smither (Treasurer)**
The notes on pages 8 to 14 form part of these financial statements.
Page 7
**STOREHOUSE COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
STOREHOUSE COMMUNITY TRUST meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **1.2 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **1.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **1.4 Tangible fixed assets and depreciation**
Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Page 8
**STOREHOUSE COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **1. Accounting policies (continued)**
## **1.4 Tangible fixed assets and depreciation (continued)**
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
Office equipment - 25%
## **1.5 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.6 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Page 9
**STOREHOUSE COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **2. Income from donations and legacies**
||**2. Income from donations and legacies**||||
|---|---|---|---|---|
|||
**Unrestricted**
**funds**|**Total**|**Total**|
||||||
||||||
|||**General**|**2023**|**2022**|
||||||
|||**£**|**£**|**£**|
||||||
||Parental Fees|11,692|11,692|13,755|
||West Northamptonshire County council|106,693|106,693|122,221|
||
funding||||
||
Cash received for Trips|0|0|705|
||Donation|2,000|2,000|1,500|
||Bank interest receivable|988|988|67|
||Other Income|0|0|0|
||||||
|||121,373|121,373|138,248|
Page 10
**STOREHOUSE COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **3. Expenditure on charitable activities**
||**3. Expenditure on charitable activities**||||
|---|---|---|---|---|
|||**Unrestricted**
**funds**|**Total**|**Total**|
|||**General**|**2023**|**2022**|
|||**£**|**£**|**£**|
||Wages and salaries|99,678|99,678|98,498|
||Staff NIC (Employers)|7,593|7,593|9,673|
||Staff pensions|3,301|3,301|2,762|
||Training|2,836|2,836|406|
||Rent|15,446|15,446|13,728|
||Consumables|1,624|1,624|2,568|
||Snacks|1,322|1,322|1,260|
||Office Costs|1,535|1,535|1,543|
||Bank Fees|60|60|93|
||Insurance|1,623|1,623|1,261|
||Depreciation of office equipment|374|374|499|
||Memberships|264|264|264|
||Cost of Trips|0|0|859|
||Cost of Uniform|0|0|360|
||Independent examiner's fee|550|550|500|
||||||
|||136,206|136,206|134,274|
Page 11
**STOREHOUSE COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **4. Independent examiner's remuneration**
||**2023**|_2022_|
|---|---|---|
||**£**|_£_|
|Fees payable to the Charity's independent examiner for the independent|||
|examination of the Charity's annual accounts|**550**|_500_|
## **5. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2022 - £NIL)_
During the year ended 31 August 2023, no Trustee expenses have been incurred _(2022 - £NIL)_ .
## **6. Tangible fixed assets**
|**Cost or valuation**
At 1 September 2022
At 31 August 2023
**Depreciation**
At 1 September 2022
Charge for the year
At 31 August 2023
**Net book value**
At 31 August 2023
_At 31 August 2022_|**Office**
**equipment**
**£**
**1,995**
**1,995**
**499**
**374**
**873**
**1,122**
_1,496_|
|---|---|
Page 12
**STOREHOUSE COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **7. Statement of funds**
## **Statement of funds - current year**
||**Balance at 1**|||**Balance at**|
|---|---|---|---|---|
||**September**|||**31 August**|
||**2022**|**Income**|**Expenditure**|**2023**|
||**£**|**£**|**£**|**£**|
|**Unrestricted funds**|||||
|General Funds|**136,392**|**121,373**|**(136,206)**|**121,559**|
Page 13
**STOREHOUSE COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **7. Statement of funds (continued) Statement of funds - prior year**
||_Balance at_|||_Balance at_|
|---|---|---|---|---|
||_1 September_|||_31 August_|
||_2021_|_Income_|_Expenditure_|_2022_|
||_£_|_£_|_£_|_£_|
|**Unrestricted funds**|||||
|General Funds|_132,418_|_138,248_|_(134,274)_|_136,392_|
Page 14