REGISTERED COMPANY NUMBER: CE007636 (England and Wales) REGISTERED CHARITY NUMBER: 1167843
Trustees' Report and Unaudited Financial Statements for the Year Ended 31 August 2020
for
Little Angels (Borehamwood) Pre-School
Harvine Consultants Ltd Square Root Business Centre 102 - 116 Windmill Road Croydon Surrey CR0 2XQ
Little Angels (Borehamwood) Pre-School
Contents of the Financial Statements for the Year Ended 31 August 2020
| Page | |||
|---|---|---|---|
| Trustees' Report | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 12 |
| Detailed Statement of Financial Activities | 13 |
Little Angels (Borehamwood) Pre-School
Trustees' Report for the Year Ended 31 August 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2020. 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
Significant Activities and Achievements
1.COVID-19 PANDEMIC
For the Christmas Term of September 2019 to December 2019 the pre-school was continuing on with good pupil numbers and enough staff to maintain our standards. But this happy state of affairs was challenged during the Spring term by the Covid-19 Pandemic, lockdowns, shielding and justifiable health fears. In spite of the general situation nurseries and pre-schools were mostly expected to maintain their work. In this difficult situation our staff did exactly that. Working as a friendly, dedicated team they kept going and our children continued to gain the advantages of social interaction and a progressive learning environment at this critical period in their development. As these notes are written these great efforts have lasted for over a year and all can see how greatly our children have benefitted. On behalf of the trustees and parents I want to express our grateful thanks and admiration for a great effort. Well done and thank you all.
As a pre-school that gains most of its income from grants we were helped by the government policy of maintaining grant levels at pre-pandemic levels. There was some reduction in fees collected and there was some limited furloughing, supported by government funds. The attitude of Borehamwood Baptist Church was also supportive and we are grateful for their kind consideration. Some churches just closed their buildings but we were allowed to keep serving our children, using appropriate hygiene measures of course. Children and staff had to be in bubbles and this made maintaining adequate staff cover very difficult. This has been achieved throughout and we owe our managers thanks for the extra administration and thanks to the staff for their flexibility. And thanks to our treasurer for dealing with the extra bureaucracy especially dealing with HMRC.
Significant Activities and Achievements
1.STAFF
Kayleigh had her baby and decided not to return to work. Chloe continued with her apprenticeship level 3. Sinead left us for permanent position in another setting. All staff were paid in full throughout lockdown, only one staff member was clinically extremely vulnerable and shielded through the pandemic.
2. TRAINING
The following courses where completed: Sensory training, Safeguarding, understanding Ofsted framework, wellbeing training, Working with 2 year olds, Alison started SENCO training which was delayed due to covid. Staff also completed training on the EDUCARE package during lockdown, and some accessed free training offered by the government.
3. CHILDREN
Our numbers where healthy for this year. We had our annual nativity. When we went into lockdown, we remained open for keyworker children throughout. In June we opened for more children we had around 30 children return in the summer.
4. EVENTS
We built a new website. Children attended the theatre to see Room on the Broom trip we paid for those on pupil premium to attend. INKIND was a great help with PPE which has been difficult to get hold of in the pandemic. We had lots of fun in the garden during this time using the paddling pools. All those that stayed home received two play packs which staff hand delivered. We also set tasks and activities to try at home.
5. FUTURE
We decided to continue bubbling next year and made no plans due to the sudden changes in the pandemic being unpredictable, and strict rules regarding gatherings.
Page 1
Little Angels (Borehamwood) Pre-School
Trustees' Report
for the Year Ended 31 August 2020
FINANCIAL REVIEW
Financial position
Financial Report
During the 12 months from 1st September 2019 to 31st August 2020 income received was £191,481 and expenditure was £182,105 yielding a surplus of £9,376. For the previous 12 month period there was a surplus of £7,721. These figures are on an accrued basis. Cash at bank and in hand at 31st August 2020 was £79,136 up by £17,020 on the £62,116 at 31st August 2019. The surplus, and the resultant increase in cash, strengthens us for what remains a testing situation in the midst of the Covid-19 Pandemic.
Reserves policy
The general recommendation of the Charity Commission is that charities should carry reserves of two to three months expenditure. Monthly expenditure is £15,000 so this means £30,000-£45,000. The Committee have decided that this should be increased from £30,000 to £45,000 to provide greater security in these difficult times.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes a Charitable Incorporated Organisation. The constitution is currently in the process of being changed principally about the appointment of trustees.
Decision making
The key management functions are performed by the officers and other members of the committee.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
CE007636 (England and Wales)
Registered Charity number
1167843
Registered office
12 Furzehill Avenue Borehamwood WD6 2DF
Trustees
Rev. David Aplin BA FCCA Chair Natasha Nwosu Secretary Ms Ringwood Sarah Ryder Guarav Sood Denise Digweed Treasurer Caroline Breslin (resigned 3.2.20) Caroline Davis Sophie Perkins Toni Ryder
Company Secretary
Natasha Nwosu
Page 2
Little Angels (Borehamwood) Pre-School
Trustees' Report for the Year Ended 31 August 2020
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
Harvine Consultants Ltd Square Root Business Centre 102 - 116 Windmill Road Croydon Surrey CR0 2XQ
Advisers
Bankers
Barclays Bank plc 197 Shenley Road Borehamwood WD6 1AR
TRUSTEES' RESPONSIBILITY STATEMENT
The trustees (who are also the directors of Little Angels (Borehamwood) Pre-School for the purposes of company law) 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).
Company 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 27 May 2021 and signed on its behalf by:
D G Aplin (Jun 8, 2021 14:30 GMT+1)
Rev. David Aplin BA FCCA - Trustee
Page 3
Independent Examiner's Report to the Trustees of Little Angels (Borehamwood) Pre-School
Independent examiner's report to the trustees of Little Angels (Borehamwood) Pre-School ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2020.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Harvine Consultants
Harvine Consultants (Jun 8, 2021 14:35 GMT+1)
Harvine Consultants Limited Harvine Consultants Ltd Square Root Business Centre 102 - 116 Windmill Road Croydon Surrey CR0 2XQ
8 June 2021
Page 4
Little Angels (Borehamwood) Pre-School
Statement of Financial Activities
for the Year Ended 31 August 2020
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Income 191,481 EXPENDITURE ON Raising funds 103 Charitable activities Governance costs 167,571 Other resources expended - Other Support Costs 7,578 Other 6,853 Total 182,105 NET INCOME 9,376 RECONCILIATION OF FUNDS Total funds brought forward 82,050 TOTAL FUNDS CARRIED FORWARD 91,426 |
Restricted fund £ - - - - - - - - - - |
31.8.20 Total funds £ 191,481 103 167,571 - 7,578 6,853 182,105 9,376 82,050 91,426 |
31.8.19 Total funds £ 175,626 - 155,162 3,995 - 8,748 |
|---|---|---|---|
| 167,905 | |||
| 7,721 74,329 |
|||
| 82,050 |
The notes form part of these financial statements
Page 5
Little Angels (Borehamwood) Pre-School
Balance Sheet
31 August 2020
| 31.8.20 | 31.8.19 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Debtors | 4 | 16,666 | - | 16,666 | 20,973 |
| Cash at bank and in hand | 79,136 | - | 79,136 | 62,116 | |
| 95,802 | - | 95,802 | 83,089 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 5 | (4,376) | - | (4,376) | (1,039) |
| NET CURRENT ASSETS | 91,426 | - | 91,426 | 82,050 | |
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 91,426 | - | 91,426 | 82,050 | |
| NET ASSETS | 91,426 | - | 91,426 | 82,050 | |
| FUNDS | 6 | ||||
| Unrestricted funds | 91,426 | 82,050 | |||
| TOTAL FUNDS | 91,426 | 82,050 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
continued...
Little Angels (Borehamwood) Pre-School
Balance Sheet - continued
31 August 2020
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 27 May 2021 and were signed on its behalf by:
D G Aplin (Jun 8, 2021 14:30 GMT+1)
Rev. David Aplin BA FCCA - Trustee
Denise Digweed
Denise Digweed (Jun 8, 2021 14:33 GMT+1)
Denise Digweed - Trustee
The notes form part of these financial statements
Page 7
Little Angels (Borehamwood) Pre-School
Notes to the Financial Statements
for the Year Ended 31 August 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 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 corporation 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.
2. TRUSTEES' REMUNERATION AND BENEFITS
No pecuniary or other benefit was received from the CIO by any trustee in respect of the year to 30 June 2017 other than the reimbursement of agreed and approved expenses, wholly, exclusively and necessarily for the benefit of the CIO.
An insurance policy is in place to protect the trustees, or any of them, against personal liability arising from their actions as Trustees of the CIO.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019.
continued...
Page 8
Little Angels (Borehamwood) Pre-School
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
| 3. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | fund | funds | ||
| £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Income | 175,626 | - | 175,626 | |
| EXPENDITURE ON | ||||
| Charitable activities | ||||
| Governance costs | 155,162 | - | 155,162 | |
| Other resources expended | 3,995 | - | 3,995 | |
| Other | 8,748 | - | 8,748 | |
| Total | 167,905 | - | 167,905 | |
| NET INCOME | 7,721 | - | 7,721 | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 74,329 | - | 74,329 | |
| TOTAL FUNDS CARRIED FORWARD | 82,050 | - | 82,050 | |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.8.20 | 31.8.19 | |||
| £ | £ | |||
| Debtors | 1,495 | 2,093 | ||
| Net salaries unearned | 12,137 | 15,919 | ||
| Paye unearned | 1,792 | 1,444 | ||
| Pension paid unearned | 613 | 895 | ||
| Prepayments | 629 | 622 | ||
| 16,666 | 20,973 |
continued...
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Little Angels (Borehamwood) Pre-School
Notes to the Financial Statements - continued
for the Year Ended 31 August 2020
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.8.20 | 31.8.19 | |
|---|---|---|
| £ | £ | |
| Salaries increase | 3,318 | - |
| Paye on increase | 168 | - |
| Pension on increase | 490 | - |
| Accrued expenses | 400 | 400 |
| Deferred fees | - | 639 |
| 4,376 | 1,039 |
6. MOVEMENT IN FUNDS
| At 1.9.19 £ Unrestricted funds General fund 52,050 Reserve fund 30,000 82,050 TOTAL FUNDS 82,050 Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Reserve fund TOTAL FUNDS |
Net movement in funds £ 9,376 - 9,376 9,376 Incoming resources £ 191,481 191,481 At 1.9.18 £ 44,329 30,000 74,329 74,329 |
Transfers between At funds 31.8.20 £ £ 15,000 76,426 (15,000) 15,000 - 91,426 - 91,426 Resources Movement expended in funds £ £ (182,105) 9,376 (182,105) 9,376 Net movement At in funds 31.8.19 £ £ 7,721 52,050 - 30,000 7,721 82,050 7,721 82,050 |
Transfers between At funds 31.8.20 £ £ 15,000 76,426 (15,000) 15,000 - 91,426 - 91,426 Resources Movement expended in funds £ £ (182,105) 9,376 (182,105) 9,376 Net movement At in funds 31.8.19 £ £ 7,721 52,050 - 30,000 7,721 82,050 7,721 82,050 |
Transfers between At funds 31.8.20 £ £ 15,000 76,426 (15,000) 15,000 - 91,426 - 91,426 Resources Movement expended in funds £ £ (182,105) 9,376 (182,105) 9,376 Net movement At in funds 31.8.19 £ £ 7,721 52,050 - 30,000 7,721 82,050 7,721 82,050 |
|---|---|---|---|---|
| 9,376 | ||||
| At 31.8.19 £ 52,050 30,000 82,050 82,050 |
||||
| 82,050 | ||||
| 82,050 |
continued...
Page 10
Little Angels (Borehamwood) Pre-School
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
6. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 175,626 175,626 |
Resources Movement expended in funds £ £ (167,905) 7,721 (167,905) 7,721 |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Net | Transfers | |||
|---|---|---|---|---|
| movement | between | At | ||
| At 1.9.18 | in funds | funds | 31.8.20 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 44,329 | 17,097 | 15,000 | 76,426 |
| Reserve fund | 30,000 | - | (15,000) | 15,000 |
| 74,329 | 17,097 | - | 91,426 | |
| TOTAL FUNDS | 74,329 | 17,097 | - | 91,426 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 367,107 367,107 |
Resources Movement expended in funds £ £ (350,010) 17,097 (350,010) 17,097 |
|---|---|---|
Transfers between funds
The general recommendation of the Charities Commission is that charities should carry reserves of two to three months expenditure. Monthly expenditure is £15,000 so this means £30,000-£45,000. The opening position in June 2016 allowed a reserve of £15,000 and the Committee have decided that the results for 2016-7 permit this to be increased to £30,000.
continued...
Page 11
Little Angels (Borehamwood) Pre-School
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2020.
Page 12
Little Angels (Borehamwood) Pre-School
Detailed Statement of Financial Activities for the Year Ended 31 August 2020
| Detailed Statement of Financial Activities for the Year Ended 31 August 2020 |
||
|---|---|---|
| 31.8.20 | 31.8.19 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Income | ||
| Fees paid | 18,202 | 30,610 |
| Pupil premium | 2,871 | 3,429 |
| Donations | 540 | 2,402 |
| Other income | 1,550 | 2,019 |
| Grants | 154,839 | 136,001 |
| ENF and pupil premium | 1,831 | 250 |
| Other grants | 11,648 | 915 |
| 191,481 | 175,626 | |
| Total incoming resources | 191,481 | 175,626 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Fundraising | 103 | - |
| Charitable activities | ||
| Subscriptions | 659 | 517 |
| Pupil premium | - | 55 |
| Sundries | - | 1,014 |
| Trips | 937 | 1,735 |
| Milk | 119 | 674 |
| Equipment and consumables | 224 | - |
| 1,939 | 3,995 | |
| Support costs | ||
| Finance | ||
| Wages | 147,731 | 125,997 |
| Insurance | 1,072 | 1,066 |
| Office costs | 1,777 | 2,185 |
| Premises costs | 18,560 | 24,828 |
| Training and courses | 1,030 | 1,086 |
| Professional services | 4,007 | 3,279 |
| Bank charges | 63 | - |
| Sundry consumables | 5,823 | 5,469 |
| 180,063 | 163,910 | |
| Total resources expended | 182,105 | 167,905 |
| Net income | 9,376 | 7,721 |
This page does not form part of the statutory financial statements
Page 13