RAINBOWS END PRE-SCHOOL EWHURST
TRUSTEES REPORT
YEAR ENDED 31 AUGUST 2024
Registered charity number: 1165172
Charity’s principal address: Ewhurst Village Hall, The Street, Ewhurst, Surrey.
Trustees: Jade Ould (Chair)
Hannah May (Secretary)
Anne Doran (Co - Treasurer)
Benjamin Doran (Co - Treasurer)
Governing document: Preschool Learning Alliance – Pre-school Constitution
Objectives:
The pre-school aims to provide a service to the local community by providing a happy and relaxed environment for children of any culture and/or ability to learn through play. Children are encouraged by example and teaching to care for and respect not only themselves but also others and their environment.
The pre-school aims to:-
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Increase personal confidence and self-esteem;
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Develop the concentration, communication and listening skills of the children;
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Broaden their range of experiences and to deepen their levels of understanding;
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Develop their physical abilities.
The pre-school actively promotes creativity and imaginative play and equality of opportunity for everyone. Children are encouraged to feel part of their community by having visitors and by taking part in visits to local facilities and places of interest in the village. The pre-school maintains a working partnership with parents, as it is recognised as being of major value and importance in the education of children. We encourage each individual child to progress towards the Early Learning Goals, as set out by the EYFS.
Charity’s activities and achievements in relation to its objectives in the year.
At the start of the new financial year the pre-school increased fees charged to parents by approximately 2% for 2 year olds and 5% for 3/4 year olds. A new set fee per session was also introduced. This meant that parents who had previously only used universal funding hours would be required to pay a small fee each day. Fees were increased again, by 9%, in April 2024 in light of the National Minimum wage increase.
An Ofsted inspection on 1 Feb 2024 rated the provision as outstanding.
A new Government initiative for working parents started on 1 April 2024 allowing working parents of two year olds access of up to 15 hours a week of free childcare.
The pre-school has continued to monitor spending carefully. The pre-school’s fundraising income was slightly lower than that of the prior year. In total £2,257 (2023: £2,554) was raised. Activities included a sponsored activity, textile recycling, nearly new sale, Easter egg hunt, sports day, wreath making and fundraising at the nativity performance.
There was a deficit of income over expenditure of £4,478 during the year (2023: deficit £20,462). Expenditure, including restricted funds, was 27% higher than the prior year £155,441 (2023: £122,591). Staff costs, the largest expense, rose by 29% (£28,455) compared to the prior year. Spending on HR support was £2,400 for the year. Included within staff training is £6,000 for year two tuition fees for a foundation degree in early years for a member of staff. The staff member is required to stay at the pre-school for two years from September 2024.
Income from hot lunches and voluntary consumables exceeded the cost of providing them. Income, including restricted funds, was 48% higher at £150,962 (2023: £102,129). The majority of this was an increase in fee income of £32,000. This was made up of the previously mentioned fee increases and there being more children on roll compared to the prior year.
Restricted funding includes discretionary funding, early years pupil premium, deprivation funding, inclusion funding, early years initial teacher training and the holiday food programme and came to £34,770 (2023: £18,335). This was an increase of 90% on the prior year. This year £5,833 was awarded from Best Practice Network to allow a member of staff to undertake early years initial teacher training. The remaining increase came from deprivation funding, discretionary funding and inclusion funding which is purely driven by the circumstances of the current cohort.
Reserves Policy
The income for a pre-school is very volatile. Our income depends on how many children are registered at any one time and depending on the birth rates and local competition, this rate can fall significantly, especially just after our year end when a number of children leave the pre-school to go on to school.
On the other side of the equation our costs are relatively fixed. We have on-going staff costs including training, costs of renting the village hall, insurance and costs of providing stimulating and educational equipment and material for the children.
In times where the number of children is low, we are in potential danger of our costs exceeding our income.
To be able to deal with periods of low child numbers, the trustees have a policy of retaining a reserve of approximately one term’s expenditure. Our current reserve is £24,000 and we consider this to be adequate. This amount will be reviewed on an annual basis.
The Trustees have approved the Trustees report above.
Signature Position Chairman
Name Jade Ould
Rainbow's End Pre-school Charitable Incorporated Organisation (Registsred Charity Number 1165172) Financial statements for the period ended August 31, 2024
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Independent examiner's report on the accounts CHARITY COMMISSION FOR ENGLANO AND WALES Soction A Independent Examiner's Report Report to the trusteesl members of RAINBOWS END CIO On accounts for the year ended 31 AUGUST 2024 Charity no (if any) 1165172 RespectSv8 responslbllltlos of trusts05 and examin8r The chariws Iruslees ar& responsible for the preparation of the accounts The Gharily's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 1"th8 Charities AGI'I and that an independent examination 15 needed examine the accounts under section 145 of the Charities Act. to follow the proc8dures laid down ITr the 9eneral Direclions given by thÈ Charty Ctsnmission lundei section 14515llbl of the Charities Act. and to State whether particular matters have cotne 1¢ my attention Basis of independènt ¢xaminèr'$ My examinaiion was carried out in a¢ctsrdance with general Directions given by the Charity Comm1ssion $tatement An examination indudes a review of Ihe aCCOUnling records kept by the charity and a Gornparison of the accounts presani8d with Iho$e records It also includes consideration of any unusu81 rtems or d15closures in the accounts, and seeking explanations frorn the ITuslees Goncèrning 2ny such matters. The procedures undertaken do not provide all the evideno that would be required in an audit, and consequently fio opinion is given as to ¥vhelher the a¢¢ounts present a'irue and fair. view and the report is limited 10 those mattets sei out in the statement b810w. Ind8p8Trdent •xarnlnèrf$ $tat8rn•nt In connect with rny exarninalion, n¢ material matters have come to my attentien which gives me Cause to believe that in. any material iespect-. the accounting records were not kept In 8ttord8nce with section 130 of the CharitiÈ$ Act". or the accounts did not accord with the accounting tecoids. or the aecounis did noi comply with the applicable requirements concerning Ihe fom and cont8nt of accounts sel out In the Chari1185 IAccounls and Reportsl Regulations 2008 other th8n any reqJiremenl Ih3t the accounts give a'true Ènd fair view which Is not a matter consiLlered as part of an independent exatninatiort. I have come acros$ no other rnatteT$ In connedion with the &xamination to which attention should be diawn in this report In order lo Ènable a prop8r understanding of the accounts to be reathed Signed: Date: Name: LINbA koc CIA Relevant professional qualification{sl or body (If any): FC.A Address: &E)4 èLAooD I HA PL&pat¥LQ£ IER December 2017