Trustees’ Annual Report for the period
From 01/09/19 To 31/08/20
Charity name: Lake Street Nursery and Pre-School CIO
Charity registration number: 1174863
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | As set out in our governing document, the charity works for the public benefit having as its objects the development and education of children and young people in particular by: |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
(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; (5) providing services to individuals holding membership of the CIO; and (6) furthering the aims of the Pre-school Learning Alliance. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The trustees have had regard to the guidance issued by the Charity Commission on public benefit. |
Additional information (optional) You may choose to include further statements where relevant about:
SORP reference n/a Para 1.38 Policy on grant making n/a Para 1.38 Policy on social investment including program related investment n/a Para 1.38 Contribution made by volunteers
Other
Achievements and Performance
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SORP reference
Our core work is providing high quality early years
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| Achievements and Performance | Achievements and Performance | Achievements and Performance |
|---|---|---|
| SORP reference | ||
| Our core work is providing high quality early years | ||
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | education to 2-4 year olds residing in the local community. In 2019-2020, our offer was for up to 30 hours per week during term time. The majority of our children are on government funded places and the majority of our income comes from government funding for these children. In 2019-20, we had between 26 and 32 children on role (compared with 29-32 in 2018-19). Numbers in 2019/20 were generally stable compared to the previous year, reflecting the wider trend in the area for numbers of pre-school children to be largely static. In line with government guidance, the setting was closed from March 23rd 2020- June 8th2020 due to the coronavirus pandemic. We were able to reopen in June, offering two full days (or 12 hours) to all children who usually attended. In September 2020, we were able to fully reopen the setting and welcome new starters. We also run a baby and toddler group called TAP (Thursday Afternoon Play) which is open to children and babies in the local community, running from 3.00-5.00 on Thursdays in term time. Parents and carers pay a voluntary £2 donation to attend. We closed TAP in March 2020 due to the coronavirus pandemic and were able to reopen it in a limited form in September 2020 though operating this service in its usual form is a challenge with the prevailing government advice on limiting the spread of COVID-19. Key achievements in 2019-2020 - Uptake of the earlier starting time (8.30) increased significantly after a change in the way this was described/ marketed. - We successfully ran two new events, open to the local community ‘Autumn Lights’ and ‘Winter Wonderland’ which were well attended - We upgraded and updated our website - We provided regularly updated home learning guidance throughout the closure which parents were able to access to support activities at home via our facebook group, email and phone - When re-opening, we feel we were able to maintain our ethos of the centrality of the children’s well-being, including settling new children. This was challenging due to pandemic restrictions but we feel the balance was maintained well. - We were able to reopen safely when permitted to do so - We managed to avoid any significant financial losses even in the challenging context of the pandemic and loss of fees - We changed to a cloud based accounting system - We have recruited new members to the trustee committee - We conducted a survey of local parents to assess the demand for us to extend our |
hours and/ or to provide a service during the school holidays, which had a pleasing response rate providing useful information to take forward - Children in receipt of EYPP funding and 2YE were enrolled in the Imagination Library (Dolly Parton Foundation) - Set up LocalGiving platform to develop online fundraising initiatives - Secured a £1200 grant for equipment/ furniture
Additional information (optional) You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | Progress against challenges identified in last year’s annual report: -Realistic staffing, within financial situation and falling roll: the challenge during 2019-2020 was complicated by the closure of the setting and resulting loss of income from private fee paying children, though we managed to offset this by furloughing employees in line with government guidance. Numbers of children, though low in September 2019, did increase during the year and by September 2020 were in fact rising again. Some further cuts to staff hours were made in January 2020 to help bring the budget into line. This was achieved with the agreement of staff while keeping the integrity of the key groups. We reduced the staff meeting time, moving to fortnightly from weekly -Staff time to plan and enhance provision and increase best practice within limited budgets and working time constraints .Again, the need to overhaul many working practices to fall in line with COVID guidance absorbed a good deal of time during the year, though during the first week of closure staff were able to be paid to undertake additional training. We continue to look at new ways to support this objective. -Exploring afternoon provision from 2.30 to increase Nursery’s offer and reach out to more working parents. Research in the local community in spring 2020 revealed that there was an appetite amongst local parents for extended hours, and that the current hours put some parents off using our service. Only 22% of respondents said the current hours suited their needs ‘very well’ and 44% of respondents said they preferred or needed a nursery with holiday provision. We originally planned to pilot extended hours during the 2019-2020 school year, but this was delayed due to the coronavirus pandemic. Plans to trial this during the 2020-21 school year remain in development. -Increasing membership and involvement of parent base in the organisation and Committee. We were pleased to welcome several new members to the committee during 2019-2020, including a new chair, and have more new members in the new |
|---|---|---|
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academic year. Engaging parents in fundraising and
organisation continues to be a challenge, so we are
exploring the challenges around this and adjusting
our
expectations accordingly. Moving meetings to zoom
has helped to make them accessible to more
parents.
- Resolve problem of getting DBS and EY2
checks completed in reasonable time . The
system changed in early 2020 and is now
progressing much more smoothly and quickly.
-
Ensuring Committee is well informed and are
fully aware of their responsibilities .
This is an ongoing challenge but Catherine has
worked hard on providing the relevant information in
an easy to access format and trustees are
undertaking
relevant training.
Please see the accounts for the figure raised from
fundraising. The coronavirus pandemic proved a
challenge in this area, preventing us from holding
Performance of fundraising
several of our usual fundraisers. Pre-pandemic, we
activities against objectives Para 1.41 were pleased with the Autumn Lights and
set Winter Wonderland events which attracted good
support from the local community and raised funds.
However, Nursery is well below budget for
fundraising which has led to loss and to eroding of
the Reserve. The current pandemic does not provide
an easy climate for rebuilding the reserve figures, but
this will need to be addressed in the future, with
some combination of aiming to run a small budget
surplus and fundraising.
n/a
Investment performance Para 1.41
against objectives
Other
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Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | The nursery made a small surplus at the end of the financial year, and was able to meet staff costs from fee income. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | The reserves policy is to hold sufficient funds to cover three months running expenses plus redundancy for current staff. |
| Amount of reserves held | Para 1.22 | £36,107 |
| Reasons for holding zero reserves |
Para 1.22 | |
| Details of fund materially in deficit |
Para 1.24 | |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | The reserves fall short of the reserves requirement by £5,600, however the reserves shortfall has improved compared to prior years and the trustees consider that the nursery remains a going concern. |
Additional information (optional) You may choose to include further statements where relevant about:
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The main source of income is the Nursery
Education Grant, fees from parents for
The charity’s principal nursery sessions, and the Early Education
sources of funds (including Para 1.47 entitlement for two year olds.
any fundraising)
n/a
Investment policy and
objectives including any Para 1.46
social investment policy
adopted
Risks facing the charity in 2020-21
- Falling pupil numbers could make the setting
financially unsustainable; our funding
A description of the principal Para 1.46
level from OCC has been fairly consistent, but private
risks facing the charity fees are more vulnerable, especially in the context of
the pandemic, and there is some evidence of parents
choosing to keep children at home or not enrol due to
home schooling of older children/ furlough/ risk to
older members of family.
- Extending hours is a financial risk especially during
the initial period while numbers are being
established. It may be hard to launch this without a
loss making period
- Falling fundraising making it hard to sustain
finances if government grant funding doesn’t fully
cover costs of offering places
- Ensuring we have the capacity to lead and manage
the setting with extended hours: if the management,
leadership and administrative capacity is not ready to
take on an extended offering the quality of the
service could be put at risk
- OFSTED inspection. Ability to prepare effectively
for this could be more complex during the pandemic.
- Potential expansion or change of provision offered
by other local settings
Other
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Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | ● The charity’s governing document is a constitution |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | ● The charity is constituted as a CIO |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | ● Trustee selection is by election by members of the CIO |
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Additional information (optional)
You may choose to include further statements where relevant about:
Briefing documents available to
Trustees and reviewed annually by the
Policies and procedures Trustees and Manager. Safeguarding
adopted for the induction Para 1.51 training undertaken by all trustees
and training of trustees
The Charity is a member of the Early Years
Alliance
The charity’s organisational
structure and any wider Para 1.51
network with which the
charity works
Relationship with any Para 1.51
related parties
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| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | Briefing documents available to Trustees and reviewed annually by the Trustees and Manager. Safeguarding training undertaken by all trustees |
|---|---|---|
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | The Charity is a member of the Early Years Alliance |
| Relationship with any related parties |
Para 1.51 | |
| Other |
Reference and Administrative details
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Charity name Lake Street Nursery and Pre-School CIO
Other name the charity uses
Registered charity number 1174863
Charity’s principal address Lake Street Nursery,
Hinksey Park,
Oxford
OX1 4RP
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Names of the charity trustees who manage the charity
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Name of person (or
Dates acted if not for whole
Trustee name Office (if any) body) entitled to appoint
year
trustee (if any)
Rachel Yarrow Chair From 1 [st] Oct 2019
1
Nicola Small Treasurer
2
3 Maddy Biddulph Secretary
4 Catherine Morey Nursery Manager
Annette von Delft
5
6 Sarah Unia
7
8
9
10
11
12
13
14
15
16
17
18
19
20
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– Corporate trustees names of the directors at the date the report was approved
Director name n/a
Name of trustees holding title to property belonging to the charity
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Trustee name Dates acted if not for whole year
n/a
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Funds held as custodian trustees on behalf of others
Description of the assets n/a held in this capacity Name and objects of the n/a charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for n/a safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
| Type of | Name | Address |
|---|---|---|
| **adviser ** |
Name of chief executive or names of senior staff members (Optional information)
Catherine Morey, Nursery Manager and Trustee
Exemptions from disclosure
Reason for non-disclosure of key personnel details
n/a
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
| Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date |
R Yarrow |
|---|---|
| Rachel Yarrow | |
Chair |
|
| 20/05/2021 | |
| 20/05/2021 |
Lake Street Nursery and Pre-School CIO Income & Expenditure Account for the year to 31 August 2020
| Income | 31-Aug-20 | 31-Aug-19 |
|---|---|---|
| Fees from parents Nursery Education Grant Two Year Old Funding Total fee income Inclusion & SEN Funding Fundraising Grants Donations Other Expenses Wages Consumables for children Administration Premises Insurance Memb Subs Other Equipment Fundraising Surplus/Deficit Less restricted funds Outdoor project Action learnng coaching 5th April 2021 30 Hours project Restricted funds Unrestricted surplus/deficit 5th April 2021 |
12,053.23 63,400.81 6,684.48 82,138.52 997.03 1,200.00 49.53 7,637.60 92,022.68 76,607.48 2,033.18 1,580.93 6,467.36 1,452.46 244.00 1,774.59 1,296.00 90.00 91,546.00 £476.68 0.00 £476.68 |
25,929.46 50,970.67 13,236.96 90,137.09 11,921.45 4,150.59 860.00 849.00 996.98 108,915.11 87,988.34 2,026.02 2,235.15 10,235.82 1,387.52 244.00 1,593.31 1,201.14 543.56 107,454.86 £1,460.25 0.00 £1,460.25 |
Page 1
Lake Street Nursery and Pre-School CIO Balance Sheet as at 31 Aug 2020
| 31-Aug-20 | 31-Aug-19 | |
|---|---|---|
| Current Assets Debtors Bank and Cash Bank Current Account Bank Deposit Account Cash in hand Financed by:- Unrestricted funds Accumulated Income Fund B/fwd Net deficit/surplus for the year Total unrestricted funds Restricted funds Brought forward from prior year Received during year Spent during the year Total restricted funds Total funds |
0.00 100.00 35,839.34 167.68 £36,107.02 35,630.34 476.68 36,107.02 0.00 0.00 £36,107.02 |
835.43 100.00 34,334.89 360.02 £35,630.34 34,170.09 1,460.25 35,630.34 0.00 0.00 £35,630.34 |
Rachel Yarrow Chair 5th April 2021
Nicola Small Treasurer 5th April 2021
Jenni Crosskey Independent Examiner 5th April 2021
Page 2
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees/ Charity Name members of Lake Street Nursery and Pre-School CIO On accounts for the year 31 August 2020 Charity no 1174863 ended (if any) Set out on pages 1 and 2 (remember to include the page numbers of additional sheets)
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/08/2020.
Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention (other than that disclosed below *) in connection with the examination which gives me cause to believe that in, any material respect:
-
accounting records were not kept in accordance with section 130 of the Act or
-
the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
- Please delete the words in the brackets if they do not apply.
Date: 05.04.21 Signed: Name: Jenni Crosskey Relevant professional ACMA CGMA (Chartered Institute of Management Accountants) qualification(s) or body (if any): Address: 14 St Peters Road Oxford OX2 8AU
1
October 2018
IER
Section B Disclosure
Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
2
October 2018
IER