## **St Giles Preschool** (Registered charity, number 1174619) **Financial statements for the year ended 31 August 2024**
|**Page**|**Contents**|
|---|---|
|2 - 3|Trustees’ annual report|
|4|Independent examiner’s report|
|5|Receipts & payments account|
|6|Statement of assets & liabilities|
|7|Notes to the accounts|
## **St Giles Preschool Trustees’ annual report for the year ended 31 August 2024**
**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 Lesley Brown Sarah Raddon Jackson Paul Wilson Hannah Jolly Jennifer Percival Kirty Hickey Emily Bridge, until 28/02/25 Charlotte Fullam, until 01/09/24
## **Independent examiner**
John O’Brien, 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'.
## **Summary of the main activities undertaken for the public benefit**
To provide affordable (not for profit) childcare at the heart of the local community.
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## **St Giles Preschool**
.
## **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. The provision was opened up to 2 year olds in line with government funding and a drive to increase childcare provision for working parents.
- Offered flexible 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 - this included an Easter fayre and curry evening.
## **Financial review**
We have had a strong financial year creating more reserves than we held in the previous year. At the end of the previous financial year, the conditions were challenging, thus we have undertaken a year of fundraising, cost reductions and increases in revenue.
Operationally, we have increased our child care offering - extending the hours available - which has increased revenue and attendance.
Overall we are pleased with the result of our hard work to ensure the Pre School is both stable and a viable ongoing provision.
## **Financial risks**
Potential cost increases:
- The largest proportion of costs are related to the 6 staff we have who we employ. Therefore, changes and increases to the national minimum wage are a significant risk to our operations.
- During the year we have negotiated a reduction in our rent. The potential return to the full tenancy rate will pose another potential risk in the future.
- Risks to the revenue:
- Our funded childcare places are paid by the council according to the local agreed rate. For 3-4 year olds (the majority of our children) the rate offered by the council is significantly lower than needed for us to break even, therefore we rely on voluntary top-up donations from parents.
- The competition is very high in the local area, with a number of competing nurseries and pre-schools available for local children.
## **The charity’s policy on reserves**
As per our agreement as an educational setting, we must ensure we have a term's worth of reserves, to ensure we can continue trading to the end of the school term. The majority of this is staff related salary costs (including pension payments as required).
## Signed on behalf of the charity’s trustees:
Signed _____________________________________________ Date __________ Jennifer Read, Chair
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## **Independent examiner’s report to the trustees of St Giles Preschool for the year ended 31 August 2024**
I report to the trustees on my examination of the accounts of St Giles Preschool (the charity) for the year ended 31 August 2024.
## **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’s 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.
## **Independent examiner’s statement**
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 ______________________ John O’Brien MSc, FCCA, FCIE Employee of Community Accounting Plus
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## **St Giles Preschool Receipts & payments account for the year ended 31 August 2024**
|_2023_
£
**Receipts**
9847
Sundry grants & donations
37182
Funded sessions
24041
Non funded sessions
4344
Fundraising
8
Bank interest
83
Sundry receipts
75505
**Total receipts**
**Payments**
-
Advertising
55
Bank charges
-
Entertaining
212
Equipment, repairs & renewals
603
Food & drink
-
Fundraising costs
626
Insurance
3987
Legal & professional
123
Office & general admin
54
Printing, postage & stationery
14630
Rent
67
Resources
-
Telephone
419
Training
45702
Wages & NI
66478
**Total payments**
9027
**Net receipts/(payments)**
5571
Cash funds at start of this period
14598
**Cash funds at end of this period**|**_2024_**
**£**
1950
49377
25362
6904
-
-|
|---|---|
||**83593**|
||42
78
241
259
853
211
641
2244
110
308
9149
333
105
24
48252|
||**62850**|
||**20743**
14598|
||**35341**|
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## **St Giles Preschool Statement of assets and liabilities at 31 August 2024**
**----- Start of picture text -----**
2022 2023
£ Cash assets Note £
14598 Bank accounts 35341
14598 35341
Other monetary assets
646 Debtors - HMRC 766
343 Prepayments 2 402
989 1168
Assets retained for the charity’s own use
General equipment.
Liabilities
(711) Creditors 3 (735)
(711) (735)
**----- End of picture text -----**
These financial statements are accepted on behalf of the charity by:
Signed ___________________________________ Dated ___________ Sarah Raddon Jackson, Trustee
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## **St Giles Preschool Notes to the accounts for the year ended 31 August 2024**
## **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**
|Insurance
Legal & professional|**£**
214
188|
|---|---|
||**402**|
## **3. Creditors**
|Independent examination
Printing, postage & stationery
Wages & NI (pension)|**£**
612
69
54|
|---|---|
||**735**|
## **4. Trustees’ remuneration**
Trustees received no expenses, remuneration or benefits in this period.
## **5. Related party transactions**
There were no related party transactions during the period.
## **6. Glossary of terms**
**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.
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