015LEY UNDER FIVES PRESCHOOL TREASURERS REPORT with FINANCIAL STATEMEMTS AND NOTES 12 MONTH PERIOD ENDED 31 o￿08ER202a l attach the accounts with this report regarding the financial perfomiance and position of Disley Under Five5 for the period stated above. As the committee of trustees of the charity considers this report, I would like to remind the committee of our obligatiorbs. the appropriate financial reportin framework and any requirements for independent ￿VIeW or audit. Applicable framework and requirements All charities are required to prepare accounts and, in the case of registered charities. file accounts per the required accountin8 framework with the trustees. annual report and an annual return. For a Charitable Incorporated Organisation ICIOI such as Disley Under Fives, note that it is a charity registered as a body corporate under Part 11 of the Charities Act 2011. While a body corporate ijnder this legislation, it is not a charitable company. which mean5 a company formed and registered with Companies House under the Companie5 Act 2006 and which is established for exclusive charitable purposes. This distinction is important for the relevant and appropriate accounting framework. CIOS may opt to prepare their accounts on a receipts and payments basis if their gross income is less than £250.000. Otherwise the accounts are prepared on an accruals basis, in accordance with The Charities (Accounts and Reports) Regulations 2008 and The Statement of Recommended Practice- Accounting and Reporting by Charities, issued in March 20051"SORV). For the purposes of the accounts for thts period. I recommend that Disley Under Fives continues to report on a receipts and payments basis of accountin8 Icash accountifigl for this period, as the gross income remains less than £250.OCQ per annum- this would also be a continuation in accounting poltcy from the previou5 period. The committee Should note that this needs to bè monitored. for if this threshold is exceeded, the attounts forthe CIO will need to be prepared on an accruals basis in accordance wtth the 2008 Regulations and SORP as mentioned above. The committee should also note these accounts, ¢>wing to the gross income being More than £25.000 in the period relevant for the CIO. require an independent review. We have ertgaBed A. Allen & Son Ltd, a fjrm of Chartered Accountants and Statutory Audttors. to conduct an independent review. The independent examinerfs report is enclosed. as addressed to the trustees. I recommend that Disle Under Fives with the a roval of the committee of trustees and on the basis of no material concern5 b the inde endent examiner file the attached accounts and re ort with the Chari Commission accom an the re uired Annual Return fof the eriod. Income Fee income was circa 13% lower than the previous. in part due to no fundraising activities in the year. but also a material fall in funding from Cheshire E35t, as the number ot children attending the setting had fallen. Overall, the setting's underlying income base remains dominated by funding from public sources (Cheshire East Council), albeit wtth a an approximate 11>12% increase Én additional hours paid by parent5lguardians in comparison to the average overthe past few year5. Expenses The setting had anticipated an increase in the number of children later in the year. but as this did not materialise. payroll cost reductions were modest in compari50n to the fall in income, circa 4% compared to the previous 12 months. There wa5 also additional rent paid during the year in comparison to the prior year la timing issue) and additional telephone and internet costs related to improvements to the setting website. There were a couple of notable falls in expendtture in the period vs last year, as follows: A lower level of non-recurring expenditure on renovations and new equipment1£469 vs £2,210 in the previous yearl- and A notable, but 5m311 decrease in professional and other services1£3.428 vs £5.761 in the previous year. This is attributable to fewer recruitment-￿1Jted fees and certain training courses for staff. Overall. the setting continued to respond to the ¢han8in8 numbers of children attending the setting going into the 2023/2024 academic year, but cost reduction in the year was still modest in comparison to the fall in income. Net surplus/deficit Di51ey Under Fives generated a net deficitlloss of £5.248 in the current period. The previous 12 months to 31 October 2022 resulted in a net surplLts/profft of £4.982. Cash at bank During this period. Disley Under Fives continued to operate its banking facrlities with CAF Bank. The cash bolance reported on 31 October 2023 was £69.918. compared to that on 31 Ortober 2022 of £75,166. Note that the charty has no overdraft. prepaid cards or other debt facility. Capital reseNes Reflecting the transattions above, Disley Under Fives, capital reseNes decreased from £75.166 as of 31 Ortober 2022 to £69.918 as of 31 October 2023. Staternent These annu31 accounts for the CIO of Disley Under Fives are to my belief. a true and fair reflection of the preschool funds for the 12 month period to 31 October 2023. Philip Robinson Treasurer 21 August 2024 Appendix l- Receipts and payments account for Disley Under Five5 (CIO) to 31 Ortober 2023 Appendix 2 - Independent examirterfs report to the trustees of Oisley Under Fives for the period to 31 October 2023 Appendix I: CHARITY COMMISSION FOR ENGIIiPQD AND WALE5 1175179 Receipts and payments accounts CC16a Forthe Ptrlioti from ol.m￿2? 37.C*t.22 To Section A Receipts and payments Unrt5tncled funds lotr* n￿a￿$t Restri¢ied lunds Endowmtnt lunds Total funds Lllst year *+*¢ r•w•stt to11¥ A1 Recei FeosRècéNt4 £107Ji 107Ji• 3.166 1.Z76 E919 Sub total(Gross Jt7come lorARI A2 A55et arid Iibveslment sales, Isee lablel- 1Cq.JOO Sub tot•1 1MJOO 124S85 A3Pa rnerlts Ptyio] RO￿ JndRol È9?.322&6 £TJMfp) 101.31a ¢61452 615 and £OJtr) ÉI.15Z71 00 UK&24 t469. Cttai P￿lÉ$s￿￿ Foe5 Sw¢5 ACfv¥b5hrncnla￿Y(￿tyrt 4.153 e7 2.210 Sub iotal 11•,É4J A4 Asset and ihvoslment pwchas+s, see ta￿t Sub tot 11J.M7 111603 Net Ofree¢lpW{payft￿tsj . A5 Tvarv4fers behween A6 Cash fund5 last ye3r*nd C•th funds Ihlsywend 4.812 71166 71166 0.911 N184 75,1 Section B Statement of assets and liabilities at the end of the period UnresttittÈd Its Ae5EfiCted fun Endowment funds iln9ofie$ St£ 81 Cash funds Total cash funds 69,918 Ejnrestricte funds tor￿•#£ Ehdowmènt luThds tDn•4r•*£ funds FthidloTAtsth CuTh•nt¥4 BJ Investment ass•ts ••%b B4 Assets rela1￿d for the Gharlty's own r•lth¥ 8S LlabllRlas Pnni D816 of Aporov 11.8.24 Appendix 2- A.ALLEN & SON CHARTEREDACCOUNJANTS 1144ip.' rNlxlfI￿t ¢b*AY kp ￿1￿4￿ fil J tr(7￿1.￿￿ T 01￿ J A22 IEI L￿￿lar 9r C