## **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**
**----- Start of picture text -----**
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
**----- Start of picture text -----**
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**