Trustees’ Annual Report for the year ending 31st August 2020. (13 month period).
Charity Number: 1170843 Address: Stockton Road, Long Itchington, Southam, CV47 9QP Trustees: Alexandra Feasey (whole year) Emma Lenihan (whole year) Becky Pell (whole year) Senior Staff: Maxine Taylor Claire Hopkins Maria Spence Elaine Farris
Note: This is the first full year this business has run and we have had to do it for 13months from 1[st] August – 31[st] August. Unusual Circumstances – COVID 19.
Objectives and Activities
There are two purposes of this Charity.
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1) to help children and young people with educational training, by providing pre-school care for children aged two to five years old for up to nine sessions per week. Each session lasts for three hours 9am–12pm & 12pm–3pm.
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2) to run a safe and fun out of school club for Long Itchington Primary School. 10 sessions per week. AM sessions = 1hr 7.45am – 8.45 am. PM sessions = 2hr 45min 3.15pm – 6.00pm. We also run ad hoc Holiday Clubs in school holidays as competitively as possible to help the parents of the local community.
The charity aims to enhance the development and education of children by encouraging parents to understand and provide for the need of their children through community groups. In planning the objectives and activities of the Charity, the Trustees have reviewed the guidance provided by the Charity Commission. The purposes of the charity are exclusively charitable and have been prepared in accordance with the requirement of the Charites act 2011 (“the Act”).
Achievements and performance
Luckily from the last few years we had surplus funds which has enables us to keep the setting in a positive cash position this year, this, along with the help of the part payments from the Job retention scheme. Sadly, due to the vast decrease in numbers for September 2020 we had to restructure the business in early June/July. This has taken our staff from 12 to 6. We hope this will increase again once people return to work.
Financial Review
Long Itchington Pre-school & Out of School Club | Charity No. 1170843
Stockton Road, Long Itchington, Southam, Warwickshire CV47 9QP | Telephone 01926 811400 | Ofsted Registration No. EY563360
Revenue 159k – this is due to summer 19 holiday club being very busy, the accounts reflecting x3 summers as it was a 13 month period
Expenditure for the charity is closely monitored and for this period was 151k. The main cost being that of wages which rose to £111k. Leaving us with a net surplus for the year end of 8k.
The first 7 months of trading was a very different to any other due to us taking on the OOSC and the new CIO starting from 1[st] January 2019. Then this trading year is once again unusual being a 13-month year and with all the Covid 19 implications, sadly it’s been har dto measure trends. Usually, we would be reporting on a full academic year and be able to provide variances. History has suggested that we normally hit a higher loss figure for the Autumn Term which is then replaced with a more profitable figure during Spring & Summer giving us more of a break-even position.
Structure Governance and Management
Governing Document
Long Itchington Pre-school was established in June 1990 and continued until December 2018 when it was changed to Long Itchington Pre-school & Out of School Club from trading from 1stJanuary 2019.
Long Itchington Pre-school and Out of School Club is governed by a company constitution from the Early Learning Alliance Document.
Appointment and recruitment of Trustees
Trustees are appointed at the Annual General Meeting. The minimum number of Trustees is 3. All 3 trustees are currently all parents of current children or parents of previous children that have been to the setting.
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All new Trustees are provided with a committee welcome pack which includes copies of:
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The Charities Constitution
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The latest Financial Accounts
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Code of Conduct
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Confidentiality Agreement
All trustees are encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities.
Organisational Structure
The Trustees administer the charity and meet regularly through-out the year, during these meetings all charitable matters are discussed including the raising of funds income structure, ongoing performance and any expenditure. The charity measures performance against budgeted targets and reports annually at the Annual General Meeting, where trustee’s resignation and appointments are made in line with the necessary role and requirements.
Risk Management
Long Itchington Pre-school & Out of School Club | Charity No. 1170843
Stockton Road, Long Itchington, Southam, Warwickshire CV47 9QP | Telephone 01926 811400 | Ofsted Registration No. EY563360
Management has reviewed the major risks to which the Charity is exposed. Where appropriate systems or procedures have been established to mitigate the risks the Charity faces. Long Itchington Pre-school and Out of School Club benefits from a diligent and dedicated team of Trustees. Costs are closely monitored to ensure the Charity operates within its means. The charity maintains a separate bank account to cover its reserves, all of which minimise its exposure to risk. The Charities internal policies in place to mitigate risk are listed on the Charities website.
Reserves Policy
The Charities reserves policy is to maintain reserves at a level adequate to protect its ongoing work from significant fluctuations in service income. This policy is reviewed annually. The Charity aims to hold sufficient reserves to cover three months running costs plus statutory redundancy costs. This value is set aside in a separate bank account which totals £20,019.73. The Charity reserves are therefore adequate, and the Trustees consider that the Charity will continue as a going concern for the foreseeable future. There are no material uncertainties about the Charities ability to continue.
Plans for Future Periods
It is the Trustees intention that the Charity will continue to provide services in line with objectives and activities as noted in these financial statements.
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We are forecasting a reduction in our income for the Autumn Term, as always, the numbers get higher through the school year. OOSC is normally very consistent but due to parents working from home our numbers are much lower.
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The Committee will be closely monitoring our financial position to avoid a deficit at the end of the year. We pride ourselves in staffing our setting well but do not want to find ourselves over staffed.
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To review staff salaries and hourly rates as per national living wage
This Trustees report was approved on September 28[th] , 2020 and signed on behalf of the board of Trustees by:
Rebecca Pell Chair of Trustees
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Long Itchington Pre-school & Out of School Club | Charity No. 1170843
Stockton Road, Long Itchington, Southam, Warwickshire CV47 9QP | Telephone 01926 811400 | Ofsted Registration No. EY563360
Profit and Loss
Long Itchington Pre-school and Out of School Club 1 August 2019 to 31 August 2020
| 31 Aug 20 | 31 Aug 19 | |
|---|---|---|
| Income | ||
| 2 Year Old Funding | - | 873 |
| Bad Debt OOSC | (1,243) | - |
| Bad debt Pre-school | (571) | - |
| FundraisingRevenue | 6,496 | 555 |
| Government Funded Revenue | 51,962 | 43,601 |
| HolidayClub Revenue | 5,725 | 11,457 |
| Interest Income | 41 | 25 |
| Job Retention Scheme | 20,401 | - |
| Out of School Revenue | 71,563 | 40,360 |
| Pre-school Revenue(Direct to Parents) | 4,450 | 12,482 |
| Revenue from Pre 2ndJan registration | - | 6,834 |
| Uniform Revenue for Pre-school | 274 | 131 |
| Total Income | 159,098 | 116,317 |
| Less Cost of Sales | ||
| Childrens Uniform | 430 | - |
| Consumables & Supplies | 2,921 | 2,000 |
| Contractors - Pre-school LIAS Cover | 406 | 6,567 |
| EYPP Spending | 59 | 97 |
| Food Shopping | 2,652 | 2,161 |
| Fund-raisingExpesnses | 593 | - |
| HolidayClub Expeses | 610 | 107 |
| Outsourced Activities Pre-school | 1,162 | 775 |
| Total Cost of Sales | 8,833 | 11,707 |
| Gross Profit | 150,265 | 104,610 |
| Less Operating Expenses | ||
| Audit & Accountancyfees | 3,595 | 2,535 |
| DBS Checks | 78 | 630 |
| Depreciation Expense | 977 | 23 |
| Employers National Insurance | 1,162 | - |
| Entertainment-100% business | 418 | - |
| General Expenses | - | 479 |
| Insurance | 804 | 795 |
| IT Software and Consumables | 1,562 | 663 |
| Pensions Costs | 2,040 | 96 |
| Postage, Freight & Courier | - | 65 |
| Printing& Stationery | 455 | 725 |
| Redundancy& Notice Pay | 7,577 | - |
| Rent(Oldpre 2ndJan 19) | - | 1,686 |
| Rent for Pre-school & OOSC | 4,944 | 1,510 |
| Rent Out of School Club | 1,543 | 2,140 |
| Rent Pre-school | - | 551 |
Profit and Loss | Long Itchington Pre-school and Out of School Club | 7 December 2020
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Profit and Loss
| 31 Aug 20 | 31 Aug 19 | |
|---|---|---|
| Repairs & Maintenance | 654 | 52 |
| Salaries(Basic Hours) | 111,998 | 71,513 |
| SkyTV ISSUE | - | (256) |
| Staff Training | 1,535 | 1,147 |
| Staff Uniform | - | 396 |
| Subscriptions | 548 | 179 |
| Telephone & Internet | 1,019 | 494 |
| Website Costs | 900 | 75 |
| Total Operating Expenses | 141,808 | 85,497 |
| Net Profit | 8,456 | 19,113 |
Profit and Loss | Long Itchington Pre-school and Out of School Club | 7 December 2020
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Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees/ Charity Name members of Long Itchingon Pre-school & Out of School Club
On accounts for the year 31[st] August 2020 Charity no 1170843 ended (if any) Set out on pages (remember to include the page numbers of additional sheets)
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended DD / MM / YYYY .
Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report 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 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent [The charity’s gross income exceeded £250,000 and I am qualified to examiner's statement undertake the examination by being a qualified member of [insert name of applicable listed body]]. Delete [ ] if not applicable.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did 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.
- Please delete the words in the brackets if they do not apply.
| Signed: Name: Relevant professional qualification(s) or body |
20thSeptember 20 | |
|---|---|---|
| Lucy Lewitt | ||
| AAT |
1
Oct 2018
IER
(if any):
Address:
Section B Disclosure
Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
2
Oct 2018
IER