Charity registration number 1173781
WATER LILIES PRE-SCHOOL
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
WATER LILIES PRE-SCHOOL
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | L Mountain | |
|---|---|---|
| E Turner | ||
| A Schofield | (Appointed 4 January 2023) | |
| Charity number | 1173781 | |
| Principal address | 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 - 12 |
WATER LILIES PRE-SCHOOL
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 JULY 2023
The trustees present their annual report and financial statements for the year ended 31 July 2023.
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:
-
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
-
Designs personal development plan for each child in setting.
-
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
The preschool welcomed two new members of staff this year, Jennifer in the summer term and Jo late in the autumn term. We also welcomed Aimee Schofield on to the committee as Mark Rutherford left due to other commitments. We are maintaining our standards of getting a ‘Good Grading’ when we got inspected in January of last year. Also, in this year, our deputy manager and SENCO, Lianne went on maternity leave and gave birth to a baby girl on 1st October.
We paid our respects to the passing of the Queen in September – We did some artwork and small world play in her honour. We closed on Monday 19th September to observe the funeral – with children making flags.
We invited parents/carers in for our annual Macmillan coffee morning on Friday 30th September, with lots of parents/carers baking cakes for this event. We raised £45.47 for this charity. We also had a stay and play session with lots of craft activities.
In the Autumn term we did lots of fun things from a Halloween Party, activities, dressing up for Children in Need. We even had a visit from a medical bus in which the children got to look around and we had a week focused on people who help us.
Over the Christmas period we did lots of activities and held a Christmas Stay and Play session. We held our Christmas party and raffle in which we raised £135.50 for new resources and toys. The children got involved in singing Christmas songs on the stage.
In the spring term we celebrated the Chinese New Year – the children made lanterns, tea lights and explored play dough. The children got to taste some traditional food at snack time.
We also made spring pictures, celebrated Valentines day and made pancakes for pancake day. We celebrated ‘Word book day’ with the children choosing their favourite books – we even dressed up as our favourite characters.
page 1
WATER LILIES PRE-SCHOOL
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
The Easter Party and raffle was also great in which we raised £130, almost everyone brought in an Easter egg to raffle off. The children enjoyed a party with party food. We also did an Easter Bonnet parade with the children creating a Bonnet at home to bring in.
Our yearly farm trip was a success, with the money raised from Easter, this helped pay for the coach so each child and their adult could attend. We went to Washbrooks Farm on the 28th April and had great feedback from the parents/carers. The children got to see the animals, have a tractor ride, enjoy the outdoor play equipment, have a turn on the ride on toys and play in the soft play area.
On 9th May, we held a special teddy bears picnic and invited along all of our parents/carers to celebrate the Kings coronation, we dressed in red, white and blue. It was a great afternoon.
Throughout the summer term, we had a lot of fun in the outside area enjoying the warm, summer days, the children were able to partake in lots of water play.
Also, we spent the summer term supporting our school leavers with their school readiness and helping them to prepare for their transition to school.
The library bus is still coming in to share stories with the children and allowing them to take books back into preschool to share. Our own library is getting used by all the children with a large selection of books to borrow to promote literacy skills at home.
Practitioners attended the School Transition event in the summer term and produced reports on the children attending school. For the children leaving us to start school we had a special trip to the ‘Mini Mayhem’ soft play area and the children had a separate leaving party.
We had a big summer Party to celebrate the Preschool being open for 5 years. We had a cake made, buns and balloons with number 5 written on to celebrate this achievement.
In the summer holidays all the practitioners came along for a picnic and we also got involved in some fun team building activities.
Financial review
During the financial year the charity made a surplus of £7,089 (2022: £18,084 deficit).
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.
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 (Resigned 4 January 2023) E Turner A Schofield (Appointed 4 January 2023)
Trustees are appointed or re-appointed annually at the Annual General Meeting.
page 2
WATER LILIES PRE-SCHOOL
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
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.
J ... L Mountain E Turner Trustee Trustee Date: .lo . /.Q.$. ..L4 ....
page 3
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 2023.
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:
-
1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
2 the financial statements do not accord with those records; or
-
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: .........................28/05/2024
page 4
WATER LILIES PRE-SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2023
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 105 | 427 |
| Charitable activities | 4 | 108,770 | 81,064 |
| Investments | 5 | 19 | 1 |
| Total income | 108,894 | 81,492 | |
| Expenditure on: | |||
| Charitable activities | 6 | 101,805 | 99,576 |
| Total expenditure | 101,805 | 99,576 | |
| Net income/(expenditure) and movement in funds | 7,089 | (18,084) | |
| Reconciliation of funds: | |||
| Fund balances at 1 August 2022 | 34,113 | 52,197 | |
| Fund balances at 31 July 2023 | 41,202 | 34,113 |
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 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Current assets | |||||
| Debtors | 12 | 469 | 1,456 | ||
| Cash at bank and in hand | 62,711 | 47,263 | |||
| 63,180 | 48,719 | ||||
| Creditors: amounts falling due within one | 13 | ||||
| year | (21,978) | (14,606) | |||
| Net current assets | 41,202 | 34,113 | |||
| Net assets | 41,202 | 34,113 | |||
| The funds of the charity | |||||
| Unrestricted funds | 41,202 | 34,113 | |||
| 41,202 | 34,113 |
| The financial statements were approved by the trustees on ......................... 20/05/2024 |
The financial statements were approved by the trustees on ......................... 20/05/2024 |
|---|---|
| J... | |
| L Mountain | E Turner |
| Trustee | Trustee |
page 6
WATER LILIES PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
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 consititution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
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.
page 7
WATER LILIES PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1 Accounting policies
(Continued)
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.
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 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Donations and gifts | 105 | 427 |
page 8
WATER LILIES PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
| 4 | Income from charitable activities | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Pre-School | |||
| Nursery fees | 11,106 | 5,264 | |
| Government grants | 97,664 | 75,800 | |
| 108,770 | 81,064 | ||
| 5 | Income from investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Interest receivable | 19 | 1 | |
| 6 | Expenditure on charitable activities | ||
| Pre-School | Pre-School | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Direct costs | |||
| Staff costs | 78,925 | 81,174 | |
| Rent | 14,988 | 11,505 | |
| Sundries | 424 | 557 | |
| Food | 647 | 602 | |
| Equipment | 1,038 | 898 | |
| Uniform | 190 | 69 | |
| Training | 190 | 819 | |
| Outings | 595 | - | |
| 96,997 | 95,624 | ||
| Share of support and governance costs (see note 7) | |||
| Support | 2,671 | 2,068 | |
| Governance | 2,137 | 1,884 | |
| 101,805 | 99,576 | ||
| Analysis by fund | |||
| Unrestricted funds | 101,805 | 99,576 |
page 9
WATER LILIES PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
7 Support costs allocated to activities
| 7 Support costs allocated to activities |
||
|---|---|---|
| Advertising Telephone Computer costs Subscriptions Travel Staff entertainment & gifts Office supplies Insurance Governance costs Analysed between: Pre-School Governance costs comprise: Audit fees Legal and professional 8 Net movement in funds The net movement in funds is stated after charging/(crediting): Fees payable for the independent examination of the charity's financial statements |
2023 £ - 241 562 311 6 675 186 690 2,137 4,808 4,808 2023 £ 2,010 127 2,137 2023 £ 2,010 |
2022 £ 86 87 260 493 - 296 171 675 1,884 |
| 3,952 | ||
| 3,952 | ||
| 2022 £ 1,800 84 |
||
| 1,884 | ||
| 2022 £ 1,800 |
9 Trustees
One of the trustees Leanne Mountain is also the Pre-school manager. She received total benefits of £33,148 for her role as the manager but is not involved in any discussions surrounding her salary
10 Employees
The average monthly number of employees during the year was:
| 2023 | 2022 | |
|---|---|---|
| Number | Number | |
| Full time | 2 | 2 |
| Part time | 4 | 3 |
| Total | 6 | 5 |
page 10
WATER LILIES PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
| 10 | Employees | (Continued) | |
|---|---|---|---|
| Employment costs | 2023 | 2022 | |
| £ | £ | ||
| Wages and salaries | 72,232 | 74,752 | |
| Social security costs | 5,242 | 5,104 | |
| Other pension costs | 1,451 | 1,318 | |
| 78,925 | 81,174 | ||
| There were no employees whose annual remuneration was more than £60,000. | |||
| Remuneration of key management personnel | |||
| The remuneration of key management personnel was as follows: | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Aggregate compensation | 52,945 | 55,414 | |
| 11 | Taxation | ||
| The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. | |||
| 12 | Debtors | ||
| 2023 | 2022 | ||
| Amounts falling due within one year: | £ | £ | |
| Prepayments | 469 | 1,456 | |
| 13 | Creditors: amounts falling due within one year | ||
| 2023 | 2022 | ||
| Notes | £ | £ | |
| Other taxation and social security | 2,615 | - | |
| Government grants | 15,297 | 11,763 | |
| Other creditors | - | 268 | |
| Accruals and deferred income | 4,066 | 2,575 | |
| 21,978 | 14,606 | ||
| 14 | Retirement benefit schemes | ||
| 2023 | 2022 | ||
| Defined contribution schemes | £ | £ | |
| Charge to profit or loss in respect of defined contribution schemes | 1,451 | 1,318 |
page 11
WATER LILIES PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
14 Retirement benefit schemes
(Continued)
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
15 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 August | Incoming | Resources | At 31 July 2023 |
At 31 July 2023 |
|
|---|---|---|---|---|---|
| 2022 | resources | expended | |||
| £ | £ | £ | £ | ||
| General funds | 34,113 | 108,894 | (101,805) | 41,202 | |
| Previous year: | At 1 August | Incoming | Resources | At 31 July 2022 |
|
| 2021 | resources | expended | |||
| £ | £ | £ | £ | ||
| General funds | 52,197 | 81,492 | (99,576) | 34,113 |
16 Related party transactions
There were no disclosable related party transactions during the year (2022 - none).
page 12