Charity registration number 1173781
WATER LILIES PRE-SCHOOL
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
WATER LILIES PRE-SCHOOL
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees L Mountain M Rutherford E Turner 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 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 11 |
WATER LILIES PRE-SCHOOL
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 JULY 2022
The trustees present their annual report and financial statements for the year ended 31 July 2022.
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:
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Assigns a Key Worker to each child, who monitors and assesses their development and works with parents to tailor a routine that meets the child's requirements
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Designs personal development plan for each child in setting.
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Provides a varied and stimulating range of educational toys, games and activities to encourage children to play, learn and grow at their own pace in line with the principles of child-centred education.
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
From September 2021 in the autumn term, we were quiet with the number of children on roll. We did build numbers up for the spring and summer term.
We’ve been lucky to have visits from the library bus each term. The children got to choose books to bring back to preschool and have the librarian read some very exciting books as well as joining in with action stories, songs, and rhymes.
In September we had a cake sale for the MacMillian Charity and raised £34.40p. The children enjoyed baking cakes and icing biscuits for this event.
In October we had a Halloween fun week where the children could dress up and enjoy lots of arts and crafts.
In November we learnt about lots of different celebrations - Diwali, Guy Fawkes night to Remembrance Day.
We also did lots of activities for ‘Children in Need’ from face painting, arts and crafts and colour matching games. A total of £18.35 was raised for the cause.
The children enjoyed a Christmas Party with a visit from Santa in December. We did a Christmas hamper raffle and raised £55 and bought some sensory resources.
On January 13th, 2022, we had our Ofsted inspection and were delighted to have obtained a GOOD rating. The report can be viewed on the Ofsted report website.
page 1
WATER LILIES PRE-SCHOOL
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
We celebrated the Chinese New Year at the end of January with children getting to taste some noodles and prawn crackers at snack time. The children also created some fans, lanterns and explored different sensory trays.
On the 1st of March the children enjoyed some pancakes which were made by the manager for snack time.
On Thursday 3rd March we enjoyed World Book Day, with both practitioners and children getting dressed up as their favourite book character. We also shared our favourite story books.
We had a practitioner leave in the Spring Term to pursue another career and a Level 3 practitioner joined us to start in the summer term.
We also did an Easter Egg raffle in March and raised £58 in which we bought a tablet. The children made Easter Bonnets which were creative.
To celebrate the Queens Jubilee, we had a stay and play session with parents and carers. This was very successful with about 14 parents/carers coming along to join in with the activities on offer. The children were involved in baking and lots of craft activities.
In the Summer Term with the weather being lovely and sunny we enjoyed lots of walks in the local community, a pool party and had some picnics.
In July, before we broke up for the summer holidays, the school leavers children enjoyed a trip to the theatre to see the ‘Tiger that came to tea’ and we had a picnic lunch after.
To finish off the Summer Term we had a garden picnic which was lovely. We had a party for our School Leavers with an entertainer. This was a wonderful experience for the children. The entertainer played parachute games, danced, had bubbles, materials, and puppets.
Financial review
During the financial year the charity had a deficit of £18,084 (2021 surplus: £494).
The charity holds in reserve funds to cover expenditure for 3 months in the case of financial difficulty. This includes outgoings for rent, staff salaries and possible redundancy payments. The current funds available are over 3 months expenditure, however any additional fund are used to improve the equipment offered at the nursery.
The charities main source of funding is via the government for 2/3 year olds and 4 year olds attending preschool. In general these funds are used to cover the running costs of the nursery, the largest of which is the rent paid to Crawley Council for the use of the building.
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.
Trustees have given consideration to the Charities SORP ('Statement of Recommended Practice') Committee's advice in its publication 'Implications of COVID-19 Control Measures and Charity Financial Reporting' and to the risks arising as a result of the coronavirus pandemic. The Charity is actively monitoring and managing the situation as it develops. We have adapted our operations in line with government guidance.
Structure, governance and management
The charity is controlled by its governing document, Charitable Incorporated Organisation Constitution adopted 11 July 2017.
The trustees who served during the year and up to the date of signature of the financial statements were: L Mountain
M Rutherford E Turner
Trustees are appointed or re-appointed annually at the Annual General Meeting.
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WATER LILIES PRE-SCHOOL
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
Water Lilies Pre-School is a friendly, non-profit Pre-School based in the small community of Ifield West in Crawley. Open to all children from 2 - 4 years, we provide a safe interesting and fun environment in which Children can play, learn and grow.
Formally a part of the Willow Tree Pre-Schools charity group, founded in 1990, in 2017 the charity decided to split in to it's four separate settings. The Ifield West pre-school has been active since 2011, and is run by an experienced group of Childcare Professionals, led by our Manager, Leanne, who is also a trustee of the charity.
The trustees' report was approved by the Board of Trustees.
L Mountain E Turner Trustee Trustee Date: .[/] .[13 ] ....... :-;}:J:l
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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 2022.
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:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 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: .........................13/02/2023
page 4
WATER LILIES PRE-SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2022
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2021 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations | 3 | 427 | 140 |
| Charitable activities | 4 | 81,064 | 90,418 |
| Investments | 5 | 1 | 1 |
| Total income | 81,492 | 90,559 | |
| Expenditure on: | |||
| Charitable activities | 6 | 99,576 | 90,065 |
| Net (expenditure)/income for the year/ | |||
| Net movement in funds | (18,084) | 494 | |
| Fund balances at 1 August 2021 | 52,197 | 51,703 | |
| Fund balances at 31 July 2022 | 34,113 | 52,197 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
page 5
WATER LILIES PRE-SCHOOL
BALANCE SHEET
AS AT 31 JULY 2022
| 2022 Notes £ Current assets Debtors 10 1,456 Cash at bank and in hand 47,263 48,719 Creditors: amounts falling due within one year 11 (14,606) Net current assets Income funds Unrestricted funds The financial statements were approved by the Trustees on ......................... L Mountain E Turner Trustee Trustee 07/02/2023 |
2021 £ £ 447 66,778 67,225 (15,028) 34,113 34,113 34,113 |
£ 52,197 |
|---|---|---|
| 52,197 | ||
| 52,197 | ||
page 6
WATER LILIES PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
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 amounts 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. 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.
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WATER LILIES PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
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 | |
| 2022 | 2021 | |
| £ | £ | |
| Donations and gifts | 427 | 140 |
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WATER LILIES PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
| 4 | Charitable activities | ||
|---|---|---|---|
| Pre-School | Pre-School | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Nursery fees | 5,264 | 3,291 | |
| Government grants | 75,800 | 87,127 | |
| 81,064 | 90,418 | ||
| 5 | Investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Interest receivable | 1 | 1 | |
| 6 | Charitable activities | ||
| Pre-School | Pre-School | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Staff costs | 81,174 | 70,354 | |
| Rent | 11,505 | 13,106 | |
| Sundries | 557 | 12 | |
| Food | 602 | 461 | |
| Equipment | 898 | 1,127 | |
| Uniform | 69 | - | |
| Training | 819 | 365 | |
| 95,624 | 85,425 | ||
| Share of support costs (see note 7) | 2,068 | 2,792 | |
| Share of governance costs (see note 7) | 1,884 | 1,848 | |
| 99,576 | 90,065 |
page 9
WATER LILIES PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
7 Support costs
| Support costs Governance costs £ £ Advertising 86 - Telephone 87 - Postage & Stationery - - Donations - - Computer costs 260 - Subscriptions 493 - Staff entertainment & gifts 296 - Office supplies 171 - Insurance 675 - Independent Examination fees - 1,800 Legal and professional - 84 2,068 1,884 Analysed between Charitable activities 2,068 1,884 |
2022 Support costs Governance costs £ £ £ 86 - - 87 84 - - 40 - - 49 - 260 698 - 493 556 - 296 603 - 171 538 - 675 224 - 1,800 - 1,620 84 - 228 3,952 2,792 1,848 3,952 2,792 1,848 |
2021 £ - 84 40 49 698 556 603 538 224 1,620 228 |
|---|---|---|
| 4,640 | ||
| 4,640 |
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:
| 2022 | 2021 | |
|---|---|---|
| Number | Number | |
| Full time | 2 | 2 |
| Part time | 3 | 4 |
| Total | 5 | 6 |
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WATER LILIES PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
| 9 Employees Employment costs Wages and salaries Social security costs Other pension costs |
(Continued) 2022 2021 £ £ 74,752 67,765 5,104 1,452 1,318 1,137 81,174 70,354 |
(Continued) 2022 2021 £ £ 74,752 67,765 5,104 1,452 1,318 1,137 81,174 70,354 |
|---|---|---|
| 70,354 |
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 £55,413.
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 |
2022 £ 1,456 2022 £ 11,763 268 2,575 14,606 |
2021 £ 447 |
| 2021 £ 9,796 268 4,964 |
||
| 15,028 |
11 Creditors: amounts falling due within one year
12 Related party transactions
There were no disclosable related party transactions during the year (2021 - none).
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