Charity registration number 1174318
READY STEADY GROW COMMUNITY PRE SCHOOL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
READY STEADY GROW COMMUNITY PRE SCHOOL
LEGAL AND ADMINISTRATIVE INFORMATION
Trustecs E Griffiths S Simpson N Brent Charity number 1174318 Registered office Langley Green Centre Langley Drive Langley Green Crawley West Sussex RH11 7PF Independent examiner Darren Harding ACA FCCA DChA Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RH10 1AT
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READY STEADY GROW COMMUNITY PRE SCHOOL
CONTENTS
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Page
Trustees’ report 1-2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6-12
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READY STEADY GROW COMMUNITY 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 Pre-School Learning Alliance Constitution, the Charities Act 201] 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
The charity is a pre-school with it's main objective being the development and education of children aged between two and five years old.
This is achieved by promoting care, safety, education and parental involvement, as well as health and wellbeing.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Autumn 2022
Last year started with 28 funded children in the Autumn Term. 11 of which were 3-4 year olds (2 of which accessed the 30 hours finding and with EYPP) and 17 were 2 year olds.
In September we hosted a Macmillan coffee moming but unfortunately we only had 2 parents come and support this event. We sold cakes at the end of the day and managed to raise £25.50.
In an effort to encourage better partnerships with parents we decided to host a Christmas craft day for our parent’s in December which was very successful. Our Christmas Play was really special as it was created and written by some of the older children and we were extremely proud of their imaginations and creativity. We held a Christmas raffle and all money raised (£177) was used on new resources for the children.
Spring 2023
The Spring Term saw an increase to 36 funded children. 19 of which were 34 year olds (3 of which accessed the 30 hours funding and 7 with EYPP) and 17 were 2 year olds.
We held 2 parent craft workshops; one for Mother’s day gifts and one for making decorations for Easter. Both were successful as was also our Easter bonnet parade and raffle. Money raised went towards the children’s resources and activities. We celebrated world book day with children and staff dressing up as their favourite characters.
Summer 2623
The Summer Term was the busiest with 40 funded children. 31 were 3-4 year olds, (8 which accessed the 30 hour funding and 9 with EYPP) and 11 of which were children starting school in the September.14 children were 2 year olds. We held a graduation party for those children off to school providing then with leaving presents. And we also held a separate party for the non- school Leavers.
_
We unfortunately said goodbye to staff member Lina who has decided to have a change of career and we wish her every success in her new job at the airport. Wendy Simpson has decided to return to the preschool and work 1 day a week and also cover staff when they are training or unwell and we welcome her back.
Now - Autumn 2023
We have 24 funded children of which 21 are 3-4 year olds and 3 are 2 year olds which is a great start to the preschool year. 9 of our children are accessing the 30 hours funding.
The staff are all working well together and really positive for the new year. Eve’s sister Cerys is joining for a short while to help with staffing.
Financial review
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that we can cover redundancies should we have to close, cover running costs and staff wages when we are less busy aud be able to replace equipment, furniture and resources from wear and tear.
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READY STEADY GROW COMMUNITY PRE SCHOOL
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
Structure, governance and management
The charity is an Early Years Alliance CIO governed by an Association Model Constitution.
The trustces who served during the year and up to the date of signature of the financial statements were: E Griffiths
S Simpson N Brent
The charity has been actively seeking new trustees and will continue to do so. Any potential new trustees will be appointed at the AGM to serve for a term of two successive years, Trustees‘ can be reappointed and serve for up to five consecutive terms before being required to take at Jeast one year off.
The trustees’ report was approved by the Board of Trustees.
Trustee Date: D8 Re
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READY STEADY GROW COMMUNITY PRE SCHOOL
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF READY STEADY GROW COMMUNITY PRE SCHOOL
I report to the trustees on my examination of the financial statements of Ready Steady Grow Community 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 | 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 | 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 | January 2015.
T have completed my examination. I confirm that no matters have come to my aitention 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 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 conceming 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. ts
Darren Harding ACA FCCA DChA
Richard Place Dobson Services Limited
1-7 Station Road
:
Crawley West Sussex RH10 LAT
Dated: AS12024
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READY STEADY GROW COMMUNITY PRE SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY2023
eee
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| Notes | £ | £ | |
| Incomefrom: | |||
| Donations andlegacies | 3 | 125,880 | 144,464 |
| Charitable activities | 4 | - | 76 |
| Othertrading activities | § | 392 | 572 |
| Totalincome | 126,272 | 145,132 | |
| Expenditure on: | |||
| Raising funds | 6 | 53 | - |
| Charitable activities | 7 | 131,237 | 131,134 |
| Total expenditure | {31,290 | 131,134 | |
| Net(expenditure)/income for theyear/ | |||
| Netmovementinfunds | (5,018) | 13,978 | |
| Fundbalances at 1 August2022 | 181,088 | 167,110 | |
| Fundbalancesat31July2023 | 176,070 | 181,088 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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READY STEADY GROW COMMUNITY PRE SCHOOL
BALANCE SHEET
AS AT 31 JULY 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 12 | 393 | - | ||
| Current assets | |||||
| Debtors | 13 | 468 | - | ||
| Cash atbankand inhand | 177,979 | 181,488 | |||
| 178,447 | 181,488 | ||||
| Creditors: amounts fallingduewithin one | |||||
| year | 14 | (2,770) | (400) | ||
| Net current assets | 175,677 | 181,088 | |||
| Total assets less current liabilities | 176,070 | 181,088 | |||
| Income funds | |||||
| Unrestricted funds | 176,070 | 181,088 | |||
| 176,070 | 181,088 |
The financial| statements were approved by the Trustees 001 v2.“IS.2A
s Sor JAHAGA ffiths Trustee
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READY STEADY GROW COMMUNITY PRE SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY2023 e e e
- 1 Accounting policies
Charity information
Ready Steady Grow Community Pre School is an Early Years Alliance CIO .
1.1. Accounting convention The financial statements have been prepared in accordance with the charity's constitution, 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 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 bas 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 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.
- 13 Charitable funds
:
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
- 1.4 Income ,
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified ofan impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
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READY STEADY GROW COMMUNITY PRE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
- 1 Accounting policies
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(Continued)
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1.6 Tangible fixed assets
- Tangible fixed assets are initially mcasured at cost and subsequently measured ai cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
4 year straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
- 1.7. Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
:
1.8 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.
- 1.9 Financial instruments The charity has elected to apply the provisions of Section [{ ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financia} instruments ate 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.
Basicfinancial assets
:
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the afrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basicfinancial liabilities
Basic financial tiabilities, including creditors and bank loans are initially recognised at transaction price unless the arranpement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. ‘
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
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READY STEADY GROW COMMUNITY PRE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
1 Accounting policies
(Continued)
Derecoguition offinancial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost ofany unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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.
3 Donations and legacies
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Donations | and | gifts | 4,882 | 4,560 |
| Grants | 120,998 | 139,904 | ||
| 125,880 | 144,464 |
| 4 | Charitable activities | ||
|---|---|---|---|
| Pre-School | Pre-School | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Uniformsales | - | 76 |
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READY STEADY GROW COMMUNITY PRE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
| 5 | Othertrading activities | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Fundraising events | 392 | 572 | |
| 6 | Raising funds | ||
| Unrestricted | Total | ||
| funds | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Fundraising and publicity | |||
| Otherfundraising costs | 53 | - | |
| 53 | - |
7 Charitable activities
:
| Pre-School | Pre-School | |
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Staffcosts | 105,123 | 105,914 |
| Depreciation and impairment | 56 | ~ |
| Activities | 331 | 229 |
| Domestic | 793 | 937 |
| Equipment | 1,107 | 1,065 |
| Outings, trips and parties | 154 | - |
| Rent | 15,301 | 15,664 |
| Stafftraining | 200 | 639 |
| Other staffcosts | 2,196 | - |
| 125,261 | 124,448 | |
| Shareofsupport costs (see note 8) | 3,149 | 5,333 |
| Share of governance costs (seenote 8) | 2,827 | 1,353 |
| 131,237 | 131,134 |
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READY STEADY GROW COMMUNITY PRE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
| 8 | Support costs | ||||||
|---|---|---|---|---|---|---|---|
| Suppert costs | Governance | 2023 Support costs | Governance | 2022 | |||
| costs | costs | ||||||
| £ | £ | £ | £ | £ | £ | ||
| Tusurance | 235 | - | 235 | 1,354 | - | 1,354 | |
| Telecommunications | 1,065 | - | 1,065 | 972 | - | 972 | |
| Printing, postageand | |||||||
| stationary | 291 | - | 291 | 319 | - | 319 | |
| Premises expenses | 107 | - | 107 | 105 | - | 105 | |
| Computer costs | 670 | - | 670 | 398 | - | 398 | |
| Sundry | 781 | - | 781 | 2,185 | - | 2,185 | |
| Accountancy | - | 2,827 | 2,827 | - | 1,283 | 1,283 | |
| Legal and professional | - | - | - | - | 70 | 70 | |
| 3,149 | 2,827 | 5,976 | 5,333 | 1,353 | 6,686 | ||
| Analysedbetween | |||||||
| Charitableactivities | 3,149 | 2,827 | 5,976 | 5,333 | 1,353 | 6,686 |
Governance costs includes payments to the independent examiners of £2,340 (2022- £400) for independent examination fees.
9 Trustees
All three trustees were employed in the year, and were paid a total remuneration of £71,198.
;
During the year all three trustees had a staff benefit of a gym membership at £35 per month, totalling £1,260 for the year.
10 Employees
The average monthly number of employees during the year was:
| 2023 | 2022 | |
|---|---|---|
| Number | Number | |
| 6 | 6 | |
| Employment costs | 2023 | 2022 |
| £ | £ | |
| Wagesandsalaries | 101,042 | 101,972 |
| Social security costs | 2,248 | 2,274 |
| Otherpension costs | 1,833 | 1,668 |
| 105,123 | 105,914 |
There were no employees whose annual remuneration was more than £60,000. .
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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
READY STEADY GROW COMMUNITY PRE SCHOOL
11s Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
12 = Tangible fixed assets
| Tangible fixed assetsassets | |
|---|---|
| Computers | |
| £ | |
| Cost | |
| Additions | 449 |
| At31 July2023 | 449 |
| Depreciation and impairment | |
| Depreciationcharged in theyear | 56 |
| At 31 July2023 | 56 |
| Carrying amount | |
| At31July2023 | 393 |
:
| 13. | Debtors | ||
|---|---|---|---|
| 2023 | 2022 | ||
| Amounts fallingduewithin oneyear: | £ | £ | |
| Prepaymentsandaccrued income | 468 | - | |
| 14 | Creditors: amounts fallingdue within oneyear | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Trade creditors | - | 400 | |
| Othercreditors | 430 | - | |
| Accruals and deferred income | 2,340 | - | |
| 2,770 | 400 |
15___ Retirement benefit schemes
Defined contribution schemes
The charity operates a defined contribution pension scheme for al! qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £1,833 (2022 - £1,668).
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READY STEADY GROW COMMUNITY PRE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
16 Related party transactions
There were no disclosable related party transactions during the year (2022 - none).
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