2024-08-31-accounts

Trustees’ Annual Report for the period

From: 01 September 2023 To: 31 August 2024 Charity name: Lake Street Nursery and Pre-School CIO Charity registration number: 1174863; Ofsted: EY557981

Objectives and Activities

Objectives and Activities	Objectives and Activities	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: (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 Early Years Alliance [formerly the Pre- School Alliance]
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 Providing education and care for children aged 2-4 and receiving Early Education Funding and income in direct fees from parents One apprentice studying to Level 2 for the Early Years’ Workforce Training for staff members including attendance at a day Conference for some members of the team this year and more local courses Updates to DBS checks Purchase of high quality equipment and resources to support learning
Statement confirming whether the trustees have	Para 1.18	The trustees have had regard to the guidance issued by the Charity

Charity Number: 1174863; Ofsted: EY557982

had regard to the guidance issued by the Charity Commission on public benefit

Commission on public benefit and have received a copy of The Essential Charity Trustee as recommended in the Constitution

Additional information (optional) You may choose to include further statements where relevant about:

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Lake Street Nursery and Pre-School CIO is
Para 1.38 not a grant making organisation
Policy on grant making
NA
Para 1.38
Policy on social investment
including program related
investment
The Trustees of Lake Street Nursery are all
Para 1.38 volunteers. Other parents, and members of
Contribution made by the local community, contribute volunteer
volunteers time to support the Nursery. This includes:
running or donating to fundraising events,
donating resources and materials for the
benefit of the Nursery to support the children
e.g. plants, compost, craft items, clothing
and garden development and upkeep
Other
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Charity Number: 1174863; Ofsted: EY557982

Achievements and Performance

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SORP reference
Lake Street Nursery and Pre-School CIO
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Achievements and Performance	Achievements and Performance	Achievements and Performance
SORP reference
		Lake Street Nursery and Pre-School CIO
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	provides education and care for families in the local community and is registered with Ofsted with a rating of GOOD at the last inspection. The Nursery operates term time: running 8.45-14.45 daily and with three ‘Staying for Tea sessions’ a week from 14.45 to 17.15. These sessions continue to run at a small loss but enable parents working full time to access the service we provide. Nursery supports a number of children each year who have SEND needs, who have educational disadvantage and receive extended 2 year old funding and children in receipt of Early Years Pupil Premium. To support these children we work with a number of professional services including EYSENIT team in Oxfordshire; paediatric assessment team, health visitors and various specialists such as the Visual or Hearing Impairment Team. We have also been in receipt of the Household Support Fund to be able to provide vouchers for food in the school holidays. Nursery participates in the County wide WELLCOMM assessment to assess and then support the Communication and Language skills of the children. This tool enables Nursery to identify children needing support in good time to support them towards strong skills by the time they start school.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against objectives set	Para 1.41	Nursery has continued to develop and strengthen the learning opportunities in the outside space by continuing to plant and harvest vegetables, creating a butterfly friendly area of the garden and a refresh of our bike area with more balance bikes in support of Oxford’s initiatives to get more families walking or biking to schools
		Fundraising initiatives are evolving as volunteers have less time to plan and

Charity Number: 1174863; Ofsted: EY557982

Performance of fundraising activities against objectives set	Para 1.41	participate in big events. The main event this year has been a Plant Sale in the Spring followed by an online end of year fundraiser. Fundraising totals have been down on previous years and this is something the Committee are seeking to address over the next two years.
Investment performance against objectives	Para 1.41	N/A
Other

Financial Review

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Review of the charity’s Para 1.21 The Charity made a deficit of £19,107 in
financial position at the end year. More than £4,000 of income related to
of the period this year was received in the following
accounting year. The trustees recognise the
intense financial pressure on the sector and
will work with the nursery management to
monitor the finance closely in the 24/25
financial year to ensure that all possible
income is recovered on a timely basis.
Statement explaining the Para 1.22 A Reserve Policy is in place with provision
policy for holding reserves for 3 months running costs. The Reserve
stating why they are held figure is recorded in the accounts document.
Amount of reserves held Para 1.22 The charity reserve stands at £46, 853. This
falls below the provision in the reserves
policy for 3 months expenses plus
redundancy pay, however the nursery
remains busy with high numbers of children
and so the trustees consider that it should
continue as a going concern but should
closely monitor income over the next
financial year to try to rebuild reserves.
Reasons for holding zero Para 1.22 N/A
reserves
Details of fund materially in Para 1.24 N/A
deficit
Explanation of any Para 1.23 The Charity is continuing to maintain its
uncertainties about the financial obligations
charity continuing as a going
concern
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Additional information (optional) You may choose to include further statements where relevant about:

Around two thirds of income is received via Early Education Funding including: 15 hours statutory entitlement, Working Parents

Charity Number: 1174863; Ofsted: EY557982

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The charity’s principal Para 1.47 entitlement with additional income for those
sources of funds (including children with EHCP or identified SEND need.
any fundraising) Around one third is received in fees
Fees are kept aligned to the Government
funding rates to keep them affordable and
also to ensure lack of shortfall once families
move onto statutory funding
A £2,000 target is set for fundraising each
year to support buying of resources and
equipment for the Nursery, alongside Grant
Applications for specific items of equipment
or projects.
N/A
Investment policy and
objectives including any Para 1.46
social investment policy
adopted
The sustainability of the Nursery is tied to
the Government funding amounts as this is
A description of the principal Para 1.46 where the majority of income lies. If these
risks facing the charity do not increase at a rate inline with
increasing running costs (e.g. salaries, NI,
rates, utilities and upkeep) Nursery runs the
risk of making a loss
Recruitment of suitable and trained staff has
proved challenging and the amounts that
can be afforded in salaries is not favourable
to recruitment of long term, experienced and
trained personnel
Other
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Structure, Governance and Management

Description of charity’s trusts:		NA
Type of governing document (trust deed, royal charter)	Para 1.25	Constitution
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	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	Trustees are elected at the Annual General Meeting for a two year period of tenure in accordance with our constitution

Charity Number: 1174863; Ofsted: EY557982

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Additional information (optional) N/A
You may choose to include further statements where relevant about:
Induction and training of new Trustees
includes access to the Essential Charity
Policies and procedures Trustee information, policy and procedure of
adopted for the induction and Para 1.51 the setting, the Constitution and Lease and
training of trustees other documentation: easily accessible on
the Charity website and a designated
Committee drive.
Trustees are aware of the requirement to
undertake Safeguarding training and
complete approval from Ofsted via an EY2
form with enhanced DBS checking
The charity works within the local community
and has strong links to the County Council
The charity’s organisational Early Years Team. The Manager has a
structure and any wider Para 1.51 strong network of professional
network with which the colleagues/Managers to draw on for support
charity works and advice
Relationship with any related Para 1.51
parties
Other
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Reference and Administrative details: See top of this document

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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
Oxford
OX1 4RP
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Names of the charity trustees who manage the charity

Charity Number: 1174863; Ofsted: EY557982

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Name of
person (or
body)
Dates acted if not for whole
Trustee name Office (if any) entitled to
year
appoint
trustee (if
any)
1 Anna Sabisky Chair
2 Joe Haselll Treasurer
3 Nicola Small Accounts
Catherine Morey Staff Trustee,
4
Manager
5 Kate Weatherup Officer
6 Leila Watson Officer June 2024
7 Nehal Depani Officer
8 Ben Haydon Staff Trustee
9
1
0
1
1
1
2
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– Corporate trustees names of the directors at the date the report was approved N/A

Director name

N.A

Name of trustees holding title to property belonging to the charity N/A

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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

Charity Number: 1174863; Ofsted: EY557982

Description of the assets held in this capacity	N/A
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects	N/A
Details of arrangements for safe custody and segregation of such assets from the charity’s own assets	N/A

Additional information (optional)

Names and addresses of advisers (Optional information)

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Type of Name Address
adviser
Name of chief executive or names of senior staff members (Optional information)
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Declaration:

The trustees declare that they have approved the trustees’ report above:

Signed on behalf of the charity’s trustees by:

Signature: Catherine Morey

Full name and Title: Mrs Catherine Morey

Position: Manager and Trustee

Date: 13 November 2024

Charity Number: 1174863; Ofsted: EY557982

Lake Street Nursery and Pre-School CIO Income & Expenditure Account for the year to 31 August 2024

Income	31-Aug-24	31-Aug-23
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 Doris Field outdoor project OCC road safety signs and bikes Restricted funds Unrestricted surplus/deficit	32,259.50 90,123.94 122,383.44 8,238.20 1,073.52 0.00 640.26 4,601.10 136,936.52 128,127.03 3,622.57 6,659.74 12,187.47 1,497.86 423.67 2,848.06 1,768.26 209.29 157,343.95 -£20,407.43 -500.00 -800.00 -1,300.00 -£19,107.43	42,699.43 72,635.46 115,334.89 7,050.96 2,194.20 1,800.00 1,237.15 3,421.70 131,038.90 111,877.33 3,018.73 7,060.25 8,443.46 1,428.35 804.08 3,897.82 2,897.90 180.00 139,607.92 -£8,569.02 500.00 800.00 1,300.00 -£9,869.02

Page 1

Lake Street Nursery and Pre-School CIO Income & Expenditure Account for the year to 31 August 2024

	31-Aug-24	31-Aug-23
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 99.42 45,314.82 139.35 £45,553.59 65,961.02 -19,107.43 46,853.59 0.00 £46,853.59	0.00 209.30 65,703.00 48.72 £65,961.02 74,530.04 -8,569.02 65,961.02 0.00 0.00 £65,961.02

Anna Sabinsky Chair 13th November 2024

Joe Hassel Treasurer 13th November 2024

Felicity Peachell Independent Examiner 13th November 2024

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 2024 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 31/08/2024.

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 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.

Date: 13[th] Nov 2024 Signed: ~~ee~~ Name: Felicity Peachell ~~pd~~ Relevant professional qualification(s) or body (if any): Address: 23 Barn Close, Cumnor Hill, Oxford, OX2 9JP

Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Section B Disclosure ~~ee~~

1

October 2018

IER

Give here brief details of any items that the examiner wishes to disclose .

2

October 2018

IER