ACORN PRE-SCHOOL
CHARITY COMMISSION REGISTERED NO. 1173988
FINANCIAL STATEMENTS
for the year ended
31 August 2021
ACORN PRE-SCHOOL
Annual Report
for the year ended 31 August 2021
INDEX
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1 - 2 Trustees' Annual Report 3 Independent Examiners Report
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4 Statement of Financial Activities 5 Assets and Liabilities Statement
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6 - 9 Notes to the accounts
ACORN PRE-SCHOOL
Trustees' Annual Report
for the year ended 31 August 2021
The trustees have pleasure in presenting their report and the financial statements of the charitable company for the year ended 31 August 2021.
The Acorn Pre-School was originally constituted by deed of gift and was a registered charity, No. 518623. The charity is now registered as a Charitable Incorporated Organisation in England and Wales, registered number 1173988.
The registered address is Acorn Preschool, The Portacabin, Whaplode Primary School, Mill Lane, Whaplode, Spalding, Lincs, PE12 6TS
This is also the principal address for the operation of the preschool.
The charity's trustees and committee members during the year to 31 August 2021 were:
Mrs. Lisa Hollis Chairperson Mrs. Anne Cook Ms. Samantha Clover Appointed March 2021 Mr. Paul Chapman Resigned September 2020 Mrs. Diane Briggs Resigned March 2021 Mrs. Shelley Flounders Resigned September 2020 Non Committee Members Mrs. Rebecca Parks Treasurer Resigned September 2020 Mr. M. Hollis Treasurer Appointed September 2020
Bank: National Westminster Bank Plc, 1 Market Place, Wisbech, Cambs, PE12 1DT.
Independent Examiner: Moore Thompson Chartered Accountants, Bank House, Broad Street, Spalding.
Aims and objectives:
To enhance the development and education of children primarily under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups and by offering appropriate facilities and training courses, encouraging the study of needs of the children and instigating and adhering to and furthering the aim of the Pre-school Learning Alliance.
The trustees will normally be volunteers from parents of children attending the pre-school and therefore their tenure will be relatively short-term. Nominations are agreed at the Annual General Meeting and will be those persons willing to offer the skills and experience required by the charity.
The pre-school may further the aims by providing accommodation, equipment and engage staff, raise money, make payments as necessary, fix and collect fees, control the admission of children to the groups, take up membership of the Pre-school Learning Alliance and take such other action as may benefit the preschool.
Public benefit:
The trustees consider that the objectives and activities of the charity are in accordance with the Charity Commissions' general guidance on public benefit because the children leaving the pre-school are considered to be well placed for the furtherance of their education.
Change of constitution
On 27 July 2017, the trustees adopted a new constitution converting the current unincorporated charity into a Charitable Incorporated Organisation and registering this with Charity Commission.
Although a separate legal charity the new formation is the same charity in all but number. The trustees feel that the separate legal entity status has allowed the charity to move forward with subsidiary trading activities protecting the charity assets from business factors, risk and taxation.
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ACORN PRE-SCHOOL
for the year ended 31 August 2021
Trustees' Annual Report (continued)
Reserves policy
The charity does not have a specific reserves policy in place as the trustees have decided that holding reserves is currently unnecessary to the charity.
Review of the year:
During the year ended 31 August 2021, the charity provided the pre-school facility to children in the area. The Charity received OFSTED permission to operate as a CIO and therefore ceased being a dormant entity on 31 March 2020.
The reserves of the unincorporated charity were transferred over to the Incorporated organisation, which then commenced operation on 1 April 2020. The financial figures therefore reflect an operating period from 1 September 2020 to 31 August 2021, however the comparatives reflect a dormant period to 31 March 2020 and an operating period of 1 April 2020 to 31 August 2021
As at 31 August 2021, the current account amounted to £27,861, the savings accounts amounted to £2,003 and the petty cash £62.
Going concern
Prior to the commencement of operation a National Lockdown was announced which remained in force for the remainder of the School year. This significantly affected the level of income from fees; however the charity was able to operate throughout the period due to careful use of reserves.
During this period, no staff were furloughed and apart from the ongoing EYE funding no government grants
were applied for or schemes used.
At the start of the 2021 school year, lockdown restrictions had ceased and the school was operating within government guidelines. Based on the level of liquid reserves and continued funding it is believed that the charity will be able to continue to operate into the foreseeable future despite any new lockdown measures which may be announced.
Signed by order of the Trustees:
Mrs. Lisa Hollis - Chairperson
Date: 17 January 2022
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ACORN PRE-SCHOOL
Independent Examiners Report
I report to the charity on my examination of the accounts of the charity for the year ended 31 August 2021, which are set out on pages 4 to 9.
Respective responsibilities of trustees and examiner
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 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 examiner's statement
I have completed my examination. I confirm that no material 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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accounting records were not kept in respect of the charity as required by section 130 of the Act;
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the accounts do not accord with those records, or
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the accounts 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 accounts to be reached.
K.J. Maggs B.A., F.C.A. Moore Thompson Chartered Accountants Spalding
Date: 23 January 2022
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ACORN PRE-SCHOOL
Statement of Financial Activities
for the year ended 31 August 2021
| Notes Income from Donations Investments Charitable activities 2 Transfer of reserves Total income Expenditure Costs of charitable activities: 3 Total expenses Net income Fund balances brought forward Fund balances carried forward |
Unrestricted £ - - 70,770 - 70,770 66,725 66,725 4,045 32,534 36,579 |
Restricted £ - - - - - - - - 211 211 2021 |
Total £ - - 70,770 - 70,770 66,725 66,725 4,045 32,745 36,790 |
2020 Total £ - 2 25,181 33,215 |
|---|---|---|---|---|
| 58,398 | ||||
| 25,653 | ||||
| 25,653 | ||||
| 32,745 - |
||||
| 32,745 |
All income and expenditure in both the current and prior year are regarding unrestricted funds.
The charity was dormant for the whole of 2019 and commenced its activities on 1 April 2020. The comparative figures therefore only represent a 5 month period of operation with the prior 7 months being included in the charity of the same name, registered number 518623.
The notes on pages 6 - 9 form a part of these accounts
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ACORN PRE-SCHOOL
Assets and Liabilities Statement
at 31 August 2021
| Notes Fixed assets Tangible fixed assets 6 Current assets Debtors: Charitable activities' debtors Prepayments Cash at bank and in hand: Current account Reserve account - General fund - Restricted fund Petty cash Current assets Creditors:Amounts falling due within one year: Other taxes and social security Accruals Net current assets Total assets less current liabilities Income funds Unrestricted funds Restricted funds |
£ £ 6,714 - 834 834 27,861 1,792 211 62 29,926 30,760 - 684 (684) 30,076 36,790 36,579 211 36,790 2021 |
£ £ 3,138 318 694 1,012 25,566 4,759 211 2 30,538 31,550 523 1,420 (1,943) 29,607 32,745 32,534 211 Error 32,745 2020 |
£ £ 3,138 318 694 1,012 25,566 4,759 211 2 30,538 31,550 523 1,420 (1,943) 29,607 32,745 32,534 211 Error 32,745 2020 |
|---|---|---|---|
| 29,607 | |||
| 32,745 | |||
| 32,534 211 |
|||
| 32,745 |
We approve these accounts and confirm that we have made available all relevant records and information for their preparation.
These accounts were approved by the trustees on 17 January 2022.
Mrs. Anne Cook
Mrs. Lisa Hollis - Chairperson
The notes on pages 6 - 9 form a part of these accounts
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ACORN PRE-SCHOOL
Notes to the accounts
for the year ended 31 August 2021
1. Accounting policies
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis and are presented in sterling which is the functional currency of the charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.
The restricted fund relates to the balance remaining to be spent of a Grant received from Lincolnshire County Council in respect of Interactive Play for Children.
Expenditure which complies with these criteria is identified to the fund.
Income recognition
All income is recognised in the statement of financial activities when the conditions for receipt have been met and there is reasonable assurance of receipt. Where a claim for repayment of income tax has or will be made, such income is grossed for the tax recoverable.
Grants are recognised in the statement of financial activities when the conditions for receipt have been met.
Investment income is accounted for in the period in which the charity is entitled to receipt.
Donations and all receipts from charitable activities are reported gross and are accounted for on a receivable basis.
Expenditure recognition
Expenditure is included in the statement of financial activities on an accruals basis and has been allocated as detailed below:
Charitable activities include the costs of the activities defined by the charity's aims for the benefit of the persons sited in the charity objects. Costs of charitable activities includes the direct costs of the activities and depreciation on related assets. Where such assets relate to more than one functional cost category, they have been allocated on either an estimate time or floor space basis, as
Within charitable activities, governance costs include the costs which relate to the general running of the charity as opposed to the direct management function inherent in generating funds, service delivery and programme or project work.
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ACORN PRE-SCHOOL
Notes to the accounts (continued)
for the year ended 31 August 2021
1. Accounting policies (continued)
Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is calculated to write down the cost, less estimated residual value, of all tangible fixed assets over their expected useful lives. The rates generally applicable are:
Games, toys and equipment 10% reducing balance
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
2. Incoming resources from charitable activities:
| Unrestricted £ Fees 69,800 Fundraising 970 70,770 |
Restricted £ - - - 2021 |
Total £ 69,800 970 70,770 |
2020 Total £ 25,131 50 |
|---|---|---|---|
| 25,181 |
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ACORN PRE-SCHOOL
Notes to the accounts (continued)
for the year ended 31 August 2021
3. Costs of charitable activities:
| Unrestricted £ Wages and salaries 56,317 Outings - Photographs Uniform and other clothing 22 Computer costs 259 Milk purchases 170 Training and course fees 222 Repairs and maintenance 113 Cleaning materials and waste disposal 1,854 Telephone and internet 699 Advertising - Rent paid and hall hire 800 Rates 107 Licences 62 Photocopier 333 PLA insurance 631 Building insurance 360 Electricity 1,563 Refreshments and fund raising 91 Purchases of equipment, books and similar items 1,324 Postage and stationery 350 (Profit)/loss on sale of assets 34 Depreciation 746 Independent examiners fees 684 Accountancy fees (132) Legal and professional 110 Interest on late payments 6 66,725 |
Restricted £ - - - - - - - - - - - - - - - - - - - - - - - - - - - 2021 |
Total £ 56,317 - - 22 259 170 222 113 1,854 699 - 800 107 62 333 631 360 1,563 91 1,324 350 34 746 684 (132) 110 6 66,725 |
2020 Total £ 22,622 - - - 256 - - 465 114 248 - 400 70 43 214 354 - 189 - 160 18 - 140 360 - - - |
|---|---|---|---|
| 25,653 |
4. Employee emoluments
There are no employees who received emoluments exceeding £60,000.
| Average number of employees during the year | 2021 No. 7 |
2020 No. 7 |
|---|---|---|
5. Payments to trustees
No trustee has been paid in respect of their position as a trustee. All trustee work has been on a voluntary basis only.
Due to the nature of the charity's activities several trustees are also employees. However, no element of their remuneration is linked to their role as trustees.
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ACORN PRE-SCHOOL
Notes to the accounts (continued)
for the year ended 31 August 2021
6. Fixed assets
| Cost £ Portacabin 1,227 Extension 2,819 Computer 374 Fridge 81 Fence and gate 576 Outdoor equipment 3,284 Computer 499 Police car, dumper truck a 353 Filing cabinet 30 Henry Hoover 99 Skills compact discs 94 Camera 90 Computer 1,830 Chairs 169 Play shelter 1,126 Shed - Paint "n" Store tray units 515 2 Sophia armchairs 326 2 book / toy storage units 187 5 tables and 21 chairs 630 Laptop 189 Playhouse 200 Laptop 300 2 Oil heaters 100 3 Room dividers 346 High wooden fence 3,560 Outside sink 390 19,394 |
Depr'n £ 1,097 2,521 334 73 515 2,937 446 290 25 82 78 72 1,466 135 877 - 374 237 136 394 57 38 56 10 35 356 39 12,680 2021 |
NBV £ 130 298 40 8 61 347 53 63 5 17 16 18 364 34 249 - 141 89 51 236 132 162 244 90 311 3,204 351 6,714 |
Cost £ 1,227 2,819 374 81 576 3,284 499 353 30 99 94 90 1,830 169 1,126 270 515 326 187 630 189 200 300 - - - - 15,268 |
Depr'n NBV £ £ 1,083 144 2,487 332 330 44 72 9 508 68 2,898 386 440 59 283 70 25 5 79 20 77 17 70 20 1,425 405 132 37 849 277 196 74 358 157 228 98 130 57 368 262 43 146 20 180 29 271 - - - - - - - - 12,130 3,138 2020 |
|---|---|---|---|---|
All the assets above are used by the charity in the furtherance of its objectives.
7. Related parties and control
The trustees consider that there are no related parties to the charity requiring disclosure.
The charity is controlled by the Board of Trustees and no individuals can or do exert control.
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