## **ACORN PRE-SCHOOL**
**CHARITY COMMISSION REGISTERED NO. 1173988**
## **FINANCIAL STATEMENTS**
**for the year ended 31 August 2023**
**ACORN PRE-SCHOOL**
## **Annual Report**
## **for the year ended 31 August 2023**
## **INDEX**
- 1 - 3 Trustees' Annual Report 4 Independent Examiners Report 5 Statement of Financial Activities 6 Assets and Liabilities Statement
- 7 - 10 Notes to the accounts
**ACORN PRE-SCHOOL**
**Trustees' Annual Report**
**for the year ended 31 August 2023**
The trustees have pleasure in presenting their report and the financial statements of the charitable company for the year ended 31 August 2023.
The Acorn Pre-School was originally constituted by deed of gift and was a registered charity, No. 518623. The charity is converted and registered as a Charitable Incorporated Organisation in England and Wales on 27 July 2017, registered number 1173988. The funds were transferred across on 1 February 2021.
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 2023 were:
Mrs. Lisa Hollis Chairperson Mrs. Anne Cook Mrs. Stacey Stafford Mrs. Lucy Driver Mrs. Tsitsi Samantha Iredia
## **Non Committee Members**
Mr. M. Hollis Treasurer
Bank: HSBC Bank Plc, 53-54 Market Place, Boston, PR21 6LS.
Independent Examiner: Ken Maggs, Chartered Accountant, Hoekman Way, Spalding, Lincs, PE11 3HE.
## **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 pre-school.
## **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.
The trustees regard all children and their families as members of our setting who have full participatory rights. These include a right to be:
- valued and respected;
- kept informed;
- consulted;
- involved;
- included at all levels.
Page 1
**ACORN PRE-SCHOOL**
**Trustees' Annual Report (continued) for the year ended 31 August 2023**
## **Review of the year**
During the year ended 31 August 2023, the charity provided the pre-school facility to children in the area.
As at 31 August 2023, the current account amounted to £27,184, the savings accounts amounted to £3,457 and the petty cash £210.
We have continued to ensure that all the children and their families are in a safe and stimulating environment. Each of the children is given generous care and attention, because of our ratio of qualified staff to children, as well as volunteer helpers which are also trustees.
The children have the opportunity to join in with other children and adults to live, play, work and learn together and thus helps to develop the local community for the long term. They are all helped to take forward her/his learning and development by being helped to build on what she/he already knows and can do. In order to achieve these and their ambitions, each child has a personal key person who makes sure each child makes satisfying progress.
As a result of the last two years' expenditure on repairs and maintenance, and the capital items within note 3, to the financial statements, each child is in a setting that sees parents as partners in helping each child to learn and develop and each is in the appropriate setting in which parents can help to shape the service it offers.
The staff and volunteers cover all the seven areas in the early years foundation stage, which are personal, social and emotional development, Physical development, mathematic development, communication and language, literacy, knowledge and understanding of the world and expressive arts and design.
At the end of the summer term, we offered a trip for the children and their parents to Ferry Meadows, in Peterborough. At the end of the year, the trustees gave out books and gifts to the children that were moving up to primary school.
In March 2023, the charity organised a trip to a local farm during their lambing season. The parents were once again invited to this event and all were able to cuddle some lambs, as well as seeing some born.
The trustees are very grateful for the assistance of the parents at these events which makes the whole outing more exciting for the children.
## **Future developments**
Some of the activities we have planned are as follows:-
- Sensory dough for ginger bread men.
- Role play/ doctors and baby care.
- Autumn collages.
- Learning about firs safety.
- Pumpkin carving.
- Mark making fire works.
- Scissor skills/snowmen shapes.
- Frozen tuff tray.
- Creating hedgehogs.
- Autumn walks around the village, spotting signs of autumn.
- Yoga.
- Christmas crafts.
- Recognition of shapes, colours and numbers.
Page 2
**ACORN PRE-SCHOOL**
**Trustees' Annual Report (continued)**
**for the year ended 31 August 2023**
## **Reserves policy**
The charity has a small reserves policy in place due to the nature of the charity. The trustees will be made aware of the changes in Government policy well before such an eventuality would ever occur. Therefore, if Government funding was ever to be removed then the charity would be forced to cease. In such circumstance, the trustees consider that it would only be necessary to hold reserves to cover redundancy. The Government would be required to provide a replacement for the benefits offered by the charity.
Funding is received at the start of each term and the summer break so government funding dictates the continuance of the charity. Any excess funds that the charity is able to raise can then be put back into expenditure for the good of the children attending.
The level of reserves expected to be required is approximately, £5,000 to cover redundancies and a similar figure for repairs and maintenance in ongoing years to the portacabin and equipment. Therefore, there are currently excess funds of £21,000 approximately which is avaialble for spemnding on the children.
## **Going concern**
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.
The pre-school has many plans for the future as indicated above and expects to be here now and for future generations to continue with the good work within the local community.
## **Statement of Trustee's Responsibilities**
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles of the Charities SOP 2019 (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed by order of the Trustees:
Date: **24 January 2024**
**Mrs. Lisa Hollis - Chairperson**
Page 3
**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 2023, which are set out on pages 5 to 0.
## **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:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the accounts do not accord with those records, or
3. 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.** Chartered Accountant Spalding
Date: **25 January 2024**
Page 4
## **ACORN PRE-SCHOOL**
## **Statement of Financial Activities**
## **for the year ended 31 August 2023**
**----- Start of picture text -----**
2023 2022
Notes Unrestricted Restricted Total Total
£ £ £ £
Income from:
Investments 33 - 33 1
Charitable activities 2 97,296 - 97,296 83,679
Total income 97,329 - 97,329 83,680
Expenditure on:
Fundraising costs 35 - 35 -
Costs of charitable activities: 3 97,947 - 97,947 78,445
Total expenses 97,982 - 97,982 78,445
Net (expenditure) / income (653) - (653) 5,235
Fund balances brought forward 41,811 211 42,022 36,787
Fund balances carried forward 41,158 211 41,369 42,022
**----- End of picture text -----**
All income and expenditure in both the current and prior year are regarding unrestricted funds.
The notes on pages 7 - 10 form a part of these accounts
Page 5
## **ACORN PRE-SCHOOL**
## **Assets and Liabilities Statement**
## **at 31 August 2023**
**----- Start of picture text -----**
Notes 2023 2022
£ £ £ £
Fixed assets
Tangible fixed assets 6 10,238 10,711
Current assets
Debtors:
Charitable activities' debtors 67 -
Prepayments 934 221
1,001 221
Cash at bank and in hand:
Current account 27,184 28,337
Reserve account - General fund 3,246 3,208
- Restricted fund 211 211
Petty cash 210 36
30,851 31,792
Current assets 31,852 32,013
Creditors: Amounts falling due within one year:
Charitable activities' creditors 54 -
Accruals 667 702
(721) (702)
Net current assets 31,131 31,311
Total assets less current liabilities 41,369 42,022
Income funds
Unrestricted funds 41,158 41,811
Restricted funds 211 211
41,369 Error 42,022
**----- End of picture text -----**
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 **24 January 2024**
## **Mrs. Anne Cook**
## **Mrs. Lisa Hollis - Chairperson**
The notes on pages 7 - 10 form a part of these accounts
Page 6
**ACORN PRE-SCHOOL**
**Notes to the accounts**
**for the year ended 31 August 2023**
## **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 appropriate.
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.
Page 7
**ACORN PRE-SCHOOL**
**Notes to the accounts (continued)**
**for the year ended 31 August 2023**
## **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
97,105
Trips and outings
191
Fundraising
-
97,296|**Restricted**
**£**
-
-
-
-
**2023**|**Total**
**£**
97,105
191
-
97,296|2022
Total
£
82,393
-
1,286
83,679|
|---|---|---|---|
Page 8
## **ACORN PRE-SCHOOL**
## **Notes to the accounts (continued)**
## **for the year ended 31 August 2023**
## **3. Costs of charitable activities:**
|**Unrestricted **
**£**
Wages and salaries
83,756
Outings
370
Uniform and other clothing
-
Computer costs
73
Milk purchases
29
Training and course fees
45
Repairs and maintenance
1,186
Cleaning materials and waste disposal
954
Telephone and internet
564
Rent paid and hall hire
400
Rates
201
Licences
586
Entertainer
-
PLA insurance
745
Building insurance
252
Electricity
1,594
Refreshments and fund raising
225
Purchases of equipment, books and similar items
4,781
Postage and stationery
92
Subscriptions
132
Depreciation
1,141
Independent examiners fees
726
Legal and professional
35
Bank charges
60
97,947|**Restricted**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**2023**|**Total**
**£**
83,756
370
-
73
29
45
1,186
954
564
400
201
586
-
745
252
1,594
225
4,781
92
132
1,141
726
35
60
97,947|2022
Total
£
63,948
-
26
63
136
9
2,815
1,247
555
733
176
680
165
610
252
1,424
213
3,089
140
13
1,190
810
105
46
78,445|
|---|---|---|---|
## **4. Employee emoluments**
There are no employees who received emoluments exceeding £60,000.
|Average number of employees during the year|**2023**
**No.**
8|2022
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.
Page 9
## **ACORN PRE-SCHOOL**
## **Notes to the accounts (continued) for the year ended 31 August 2023**
## **6. Fixed assets**
|Portacabin
Extension
Computer
Fridge
Fence and gate
Outdoor equipment
Computer
Police car, dumper truck and
tractor
Filing cabinet
Henry Hoover
Skills compact discs
Camera
Computer
Chairs
Play shelter
Paint "n" Store tray units
2 Sophia armchairs
2 book / toy storage units
5 tables and 21 chairs
Laptop
Playhouse
Laptop
2 Oil heaters
3 Room dividers
High wooden fence
Outside sink
Water dispenser
Post box
LED lighting
New rectangular table
Six new radiators
New laminate floor
Outdoor sorting boxes and
table
Drying rack|**Cost**
**£**
1,227
2,819
374
81
576
3,284
499
353
30
99
94
90
1,830
169
1,126
515
326
187
630
189
200
300
100
346
3,560
390
166
20
987
352
2,990
675
512
156
25,252|**Depr'n**
**£**
1,122
2,577
342
75
526
3,002
456
302
26
86
81
76
1,536
142
925
401
254
146
440
82
69
103
27
94
964
106
32
5
188
67
568
127
51
16
15,014
**2023**|**NBV**
**£**
105
242
32
6
50
282
43
51
4
13
13
14
294
27
201
114
72
41
190
107
131
197
73
252
2,596
284
134
15
799
285
2,422
548
461
140
10,238|Cost
£
1,227
2,819
374
81
576
3,284
499
353
30
99
94
90
1,830
169
1,126
515
326
187
630
189
200
300
100
346
3,560
390
166
20
987
352
2,990
675
-
-
24,584|Depr'n
£
1,110
2,550
338
74
521
2,971
451
296
26
84
80
74
1,503
139
902
388
246
141
419
71
54
81
19
66
676
74
16
2
99
35
299
68
-
-
13,873
2022|NBV
**£**
117
269
36
7
55
313
48
57
4
15
14
16
327
30
224
127
80
46
211
118
146
219
81
280
2,884
316
150
18
888
317
2,691
607
-
-
10,711|
|---|---|---|---|---|---|---|
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.
Page 10