## **St Giles Preschool** (Registered charity, number 1174619) **Financial statements for the year ended 31 August 2023** |**Page**|**Contents**||| |---|---|---|---| |2 - 3|nnual report
Trustees’ a||| |4|Independent e
xaminer’s||report| |5|Receipts & payments account||| |6|Statement of assets & liabilities||| |7|Notes to the accounts||| ## **St Giles Preschool annual report for the year ended 31 August 2023** **Full name** St Giles Preschool **Organisation type** Charitable incorporated organisation ## **Registered charity number** 1174619 ## **Principal address** Lutterell Hall, Church Drive, West Bridgford, Nottingham, NG2 6AY ## **Trustees** Jennifer Read, Chair, from 17/05/23 Emily Bridge, from 30/08/23 Sarah Raddon Jackson, from 12/08/23 Paul Wilson, from 12/07/23 Hannah Jolly Jennifer Percival, from 20/07/23 Charlotte Fullam Kirty Hickey, from 27/10/23 Lesley Brown Esther Hamilton-Dick, until 01/09/23 Lisa Marshall, until 01/08/23 ## **Independent examiner** , employee of Community Accounting Plus, Units 1 & 2 North West, 41 Talbot Street, Nottingham, NG1 5GL ## **Governance and management** The charity is operated under the rules of its CIO Foundation Constitution adopted 12 September 2017. Trustees volunteer and the committee then votes to accept them on to the board. All Trustees are DBS checked and registered with OfSted. ## **Objectives and activities** The charity works for the public benefit having as its objects the development and education of preschool children in particular by: 1. Promoting their care and safety; 2. Promoting their education and promoting parental involvement; 3. Promoting their health and wellbeing; 4. Providing services to support them and their families and carers whatever race, culture, religion, means or ability; 5. Providing services to individuals holding membership of the CIO. ## **Public benefit statement** The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit'. 2 St Giles Preschool Summary of the main activities undertaken for the public benefit To provide affordable {nol for profit) childcare and education for children aged 2-5 years at the heart of the local community. Summary of the main achievements during the period Provided childcare for more than 30 children in a flexible and affordable way by running a local preschool. Offered employment to 6 staff, all of whom live in the local community. Raised funds to provide opportunities and activities for the children and their families. Organised social and fundraising events for the local community and families who use the preschool. Financial revlew During the final quarter of Ihe reporting period our charity had to consider closing due to the financial position. Costs have continued to rise and the financial gap from funded childcare places has made the business model unprofitable. Luckily, we have a strong position in the community and were able to arrange a temporary reduced rent rate and some fundraising to cover the period. We have remained open and replaced the key board roles of Chair and Treasurer, with a renewed focus on creating a financially viable educational setting for the children and local community. A number of initiatives have been introduced Sin￿ the end of this reporting period and we are in a much more prosperous financial position. Our supporters are the local community including businesses, parents and famililes who use the service. We have 2 main risks". The rising costs due to inflation are the greatest risk lo our charity. More recently the minimum wage has been increased requiring us to review our pricing structure to ensure our incoming revenue will cover our cost base. A further financial challenge is the structure of childcare fLsnding from Ihe central government. Local government set Ihe rate for the funded childcare places. This fale is significantly lower than the base cost for rbon-funded places - so we must ensure we can balance Ihe number of funded and non-funded children to ensure we have enough revenue to cover our rising costs. The charity's policy on reserves As per our agreement as an educational setting, we musl ensure we have a term's worth of reserves, to ensure we can Gontinue trading to the end of the school term. The majority of this is staff related costs, but includes a portion for rent and incidentals. Signed on behalf of the charity's trustees.. Signed Jennrfer Rea Date Chair ## **Independent e** xaminer’s **report to the trustees of St Giles Preschool for the year ended 31 August 2023** I report to the trustees on my examination of the accounts of St Giles Preschool (the charity) for the year ended 31 August 2023. ## **Responsibilities and basis of report** As the trustees of the charity 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 Ss accounts carried out under section 145 of the 2011 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. 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 Act; or 2. the accounts do not accord with those records. 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. Signed _________________________ Date ______________________28/06/2024 Jo hn oreigeSe[c,][FCCA,][FCIE] Employee of Community Accounting Plus 4 St Giles Preschool Receipts & payments account for the year ended 31 August 2023 2022 2023 Receipts Grants & donations FurKled sessions Non funded sessions FurKlraising Bank interest Sundry receipts Total receipts 342 35812 22999 410 9847 37182 24041 4344 83 75505 59563 Payments Advertising Bank charges Cleaning Equipment, repairs & renewals Food & drink Gifts & donatior Insurance Legal & professional Office & general admin Printing, postage & stationery Rent Resources Sundry payments Telephone Training Wages & Nl Total payments 110 37 149 1071 978 486 573 4071 404 98 15538 373 35 10 55 212 603 626 3987 123 54 14630 67 419 45702 66478 49930 73863 (14300) Net receiptsl(payments) 9027 19871 Cash fu￿lS at start ofthis period 5571 5571 Cash funds at end of this period 14598 St Giles Preschool Statement of assets and liabilitles at 31 August 2023 a122 23 sh ass•ts Bark accouts 5571 5571 14598 14598 Cxh•r mon•tary ass•ts 502 Debt0￿- Empbjm6rtALbWa￿ lo te daimed 336 prepa￿￿er￿S 838 343 989 Asmts r•tsln•d lorth• ¢h•rfVs own C￿r￿ra1 equpmerl. Lilblliil 112591 Creditors 3394 14653) (7111 re¢*iPts se financial statements are 8ttept6d bohaif cl th8 chanty by.. Signod Sarah Raddon Jackson. Tfusloo Dated 28 ## **St Giles Preschool Notes to the accounts for the year ended 31 August 2023** ## **1. Receipts & payments accounts** Receipts and payments accounts contain a summary of money received and money spent during the period and a list of assets and liabilities at the end of the period. Usually, cash received and cash spent will include transactions through bank accounts and cash in hand. ## **2. Prepayments** ## **3. Creditors** ## **4.** During this period, a total of £2100 was paid to Lisa Marshall for services provided as Treasurer, as agreed with the Charity Commission. ## **5. Related party transactions** There were no related party transactions during the period. ## **6. Glossary of terms** **Advance receipts:** These are amounts received by the charity in the accounting period, for use in a future period. **Creditors:** These are amounts owed by the charity, but not paid during the accounting period. **Debtors:** These are amounts owed to the charity, but not received in the accounting period. **Prepayments:** These are services that the charity has paid for in advance, but not used during the accounting period. 7