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2021-07-31-accounts

Charity Registration No. 1173781

WATER LILIES PRE-SCHOOL

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

WATER LILIES PRE-SCHOOL

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees L Mountain
M Rutherford
E Turner (Appointed 12 February
2021)
Charity number 1173781
Registered office 9 Cook Way
Broadbridge Heath
Horsham
West Sussex
RH12 3RW
Independent examiner Darren Harding ACA FCCA DChA
Richard Place Dobson Services Limited
1-7 Station Road
Crawley
West Sussex
RH10 1HT

WATER LILIES PRE-SCHOOL

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 10

WATER LILIES PRE-SCHOOL

TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2021

The trustees present their annual report and financial statements for the year ended 31 July 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Charities Act 2011 and "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

To support children's intellectual and social development by providing a safe, interesting and fun learning environment for local children aged 2-4 years in line with the Early Years Foundation Stage 2012 (EYFS) framework.

Through a mix of adult-led and self-initiated activities, Water Lilies Pre-School encourage the children to explore their surroundings, encounter new experiences and learn to take risks in a safe and nurturing environment.

Working within the Early Years Foundation Stage 2012 (EYFS) framework, the Pre-school supports a child's intellectual and social development.

In order to achieve this, the preschool:

The pre-school operates under the ethos that a balanced diet is essential for the maintenance and protection of children's heath, and that developing a healthy diet and good eating habits in life will lay the foundations for future health.

The pre-school is governed by Ofsted and is required to adhere to their guidance. It is inspected in line with Ofsted regulatory requirements.

In line with government safeguarding legislation, all staff and trustees are required to undertake DBS checks prior to appointment.

Achievements and performance

2020 was a difficult year due to the pandemic beginning in March. The preschool was subsequently closed until June 2020.

We didn’t get to partake in our usual Easter celebrations/activities or carry out our annual charity fundraiser for Easter. Our yearly farm trip was also cancelled in the summer.

The pandemic had a massive effect on our usual recruiting of new children and families during the Spring and Summer Terms. Even when we did open up again in June, we had to work in a bubble system so we couldn’t welcome back all the children, some families were also hesitant to send their children back to preschool. We also couldn’t show potential new families around the setting either .

Practitioners did story and singing sessions online whilst we were closed during lockdown, we kept in contact with families and suggested activities families could do at home.

During the lockdown of January 2021, we made up lockdown packs for all of our children who didn’t attend.

All practitioners showed great commitment to the preschool in this difficult year. Not only Ensuring the day to day running of the preschool but also sorting out their own children’s schooling.

The Christmas Hamper raffle raised £107, and we bought resources and equipment.

Tisha Davis our committee member left in September and we appointed Emma Turner.

Richard Place Dobson page 1

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WATER LILIES PRE-SCHOOL

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WATER LILIES PRE-SCHOOL

I report to the trustees on my examination of the financial statements of Water Lilies Pre-School (the charity) for the year ended 31 July 2021.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all 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 financial statements in accordance with Accounting and Reporting by 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 now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with 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:

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 financial statements to be reached.

Darren Harding ACA FCCA DChA

Richard Place Dobson Services Limited 1-7 Station Road

Crawley West Sussex RH10 1HT

Dated: 21 March 2022

Richard Place Dobson

page 3

WATER LILIES PRE-SCHOOL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2021

Unrestricted Unrestricted
funds funds
2021 2020
Notes £ £
Income from:
Donations 3 140 82
Charitable activities 4 90,418 68,703
Investments 5 1 6
Total income 90,559 68,791
Expenditure on:
Charitable activities 6 90,065 87,862
Net income/(expenditure) for the year/
Net movement in funds 494 (19,071)
Fund balances at 1 August 2020 51,703 70,774
Fund balances at 31 July 2021 52,197 51,703

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Richard Place Dobson page 4

WATER LILIES PRE-SCHOOL BALANCE SHEET ASAT31 JULY2021 2021 202• Currtnt •Mets Debtors C&sh 4tbgDk and itthand 447 66.778 69233 67225 69233 y¢ (15.028) {17,530) 51197 51,703 52.197 51.703 52.197 51,703 0910312022

WATER LILIES PRE-SCHOOL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

1 Accounting policies

Charity information

Water Lilies Pre-School is a Charitable Incorporated Organisation.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's constitution , the Charities Act 2011 and "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 charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The registered office is 9 Cook Way, Broadbridge Heath, Horsham, West Sussex, RH12 3US .

The operation address of the charity is Ifield West Community Centre, Dobbins Place, Ifield West, Crawley, West Sussex RH11 0PL.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

1.4 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.

The main source of income is funding via a government grant, these funds are received in advance and allocated to the period to which they refer and are deferred where required if the funding related to the period after the financial year.

1.5 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.

The trustees have identified one charitable activity which is the running of the pre-school, all direct costs are associated to this activity. Any costs that are not directly attributed are assigned as support costs under the activity.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Richard Place Dobson page 6

WATER LILIES PRE-SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

1 Accounting policies

(Continued)

1.7 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.8 Taxation

The charity is exempt from tax on its charitable activities

1.9 Employee benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There were no key judgments or accounting estimates during the financial year.

3 Donations

Unrestricted Unrestricted
funds funds
2021 2020
£ £
Donations and gifts 140 82

Richard Place Dobson page 7

WATER LILIES PRE-SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

4 Charitable activities

Pre-School Pre-School
2021 2020
£ £
Nursery fees 3,291 11,665
Government grants 87,127 57,038
90,418 68,703
5 Investments
Unrestricted Unrestricted
funds funds
2021 2020
£ £
Interest receivable 1 6
6 Charitable activities
Pre-School Pre-School
2021 2020
£ £
Staff costs 70,354 67,120
Rent 13,106 10,390
Sundries 12 198
Food 461 951
Equipment 1,127 3,029
Uniform - 91
Training 365 921
85,425 82,700
Share of support costs (see note 7) 2,792 1,835
Share of governance costs (see note 7) 1,848 3,327
90,065 87,862

Richard Place Dobson page 8

WATER LILIES PRE-SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

7 Support costs

Support costs Governance
costs
£
£
Advertising
-
-
Telephone
84
-
Postage & Stationery
40
-
Donations
49
-
Computer costs
698
-
Subscriptions
556
-
Travel and accomodation
-
-
Staff entertainment & gifts
603
-
Office supplies
538
-
Insurance
224
-
Independent Examination
fees
-
1,620
Legal and professional
-
228
2,792
1,848
Analysed between
Charitable activities
2,792
1,848		 2021Support costs
Governance
costs
£
£
£
-
131
-
84
258
-
40
187
-
49
119
-
698
981
-
556
-
-
-
159
-
603
-
-
538
-
-
224
-
-
1,620
-
2,985
228
-
342
4,640
1,835
3,327
4,640
1,835
3,327		 2020
£
131
258
187
119
981
-
159
-
-
-
2,985
342
5,162
5,162

8 Trustees

None of the trustees (or any persons connected with them) received any benefits from the charity during the year.

One of the trustees Leanne Mountain is also the Pre-school manager. She received total benefits of £ 22,489 for her role as the manager but is not involved in any discussions surrounding her salary

9 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2021 2020
Number Number
Full time 2 2
Part time 4 8
Total 6 10

Richard Place Dobson page 9

WATER LILIES PRE-SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

9
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2021
2020
£
£
67,765
65,271
1,452
771
1,137
1,078
70,354
67,120		 (Continued)
2021
2020
£
£
67,765
65,271
1,452
771
1,137
1,078
70,354
67,120
67,120

Key Management Personnel

The trustees deem two members of staff to be key management personnel, the total benefits received by them during tea financial year was £45, 274 .

There were no employees whose annual remuneration was more than £60,000.

10 Debtors

Debtors
Amounts falling due within one year:
Prepayments
Creditors: amounts falling due within one year
Notes
Government grants
Other creditors
Accruals and deferred income		 2021
£
447
2021
£
9,796
268
4,964
15,028		 2020
£
-
2020
£
13,630
-
3,900
17,530

11 Creditors: amounts falling due within one year

12 Related party transactions

There were no disclosable related party transactions during the year (2020 - none) .

Richard Place Dobson page 10