REGISTERED COMPANY NUMBER: CE012836 (England and Wales) REGISTERED CHARITY NUMBER: 1176528
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 FOR CHRISTCHURCH PRESCHOOL
TC Group 11 De Grey Square De Grey Road Colchester Essex CO4 5YQ
CHRISTCHURCH PRESCHOOL CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
| Page | |
|---|---|
| Report of the Trustees | 1-2 |
| Independent Examiner’s Report | 3 |
| Receipts and Payments account | 4 |
| Statements of Assets and Liabilities | 5 |
| Notes to the Accounts | 6 |
CHRISTCHURCH PRESCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023
The trustees present their report with the financial statements of the Charitable Incorporated Organisation (CIO) for the year ended 31 July 2023. The financial statements have been prepared under receipts and payments accounting.
OBJECTIVES AND ACTIVITIES Objectives and aims
The CIO’s object is the development and education of children and young people.
Activities
The CIO works in partnership with parents and carers to promote the learning of preschool children in a safe and caring environment. The Christchurch Preschool is managed by a Trustee led committee of volunteers and a salaried manager. It provides funded and unfunded early education for three and four year old children.
Christchurch Preschool opened in 1974 and operates from two rooms within the Christ Church hall in Colchester, with access to a secure outdoor play area. The preschool opens from Monday to Friday for 38 weeks of the year on a sessional basis, ordinarily offering 8 sessions per week. Morning sessions run from 9.00 am – 12.00 pm and full day sessions run from 9.00 am – 3.45 pm.
Public benefit
In setting objectives, developing strategies and undertaking activities the Trustees give careful consideration to the Charity Commission’s general guidance on public benefit and believe that the CIO’s activities this year as represented by this annual report, carry out the CIO’s objects for the public benefit.
ACHIEVEMENT AND PERFORMANCE
Christchurch Preschool welcomed a new Chair of Trustees in September 2022, alongside 2 new trustees. The Preschool started the academic year with a significantly lower intake than in previous years. Swift action was taken to address this. The trustees of the Preschool created a new marketing campaign; this included a new website, significant exposure over social media, closer links to the church and the community Christchurch Preschool serves. Whilst our numbers showed a small increase, feedback from parents and community helped us understand that we needed to change our offer for hours. Our quietest days were identified and we increased a Thursday opening to full days. This meant a cost to the preschool, opening the preschool for longer on days where there were lower numbers of children, it was felt that the long term benefit of this would be an increase in numbers. It was also decided that preschool opening hours should change to appeal more to parents who also had children attending Hamilton Primary School (our biggest feeder primary). From January 2023 the number of children on roll began to increase more significantly, but still below that of previous years. In October 2022 a member of staff chose to step down from her role, the trustees chose not to recruit given the lower number of children in the setting.
In January, our long serving Preschool Manager made the decision to retire after many decades of service to the charity. The Trustees expressed their sincere gratitude for the dedication of Paula Coleman to the organisation and began the task of recruiting a suitably qualified and experienced replacement. The charity’s trustees appointed Kerry Scott, an experienced Preschool manager to the post of Preschool Manager. Kerry Scott took up the post in March and began an employee integration period. Since March, staff have been working incredibly hard to implement a new vision and educational curriculum for the setting.
In April, the preschool saw a significant increase in the number of children, largely thanks to the new marketing campaign and opening hours the preschool offered. The new marketing strategy continued to develop this term, the preschool rebranded itself with a new logo and uniform; alongside building greater links with the church and primary school. There is still development to be made in marketing, this will continue into the next academic year. In June, the preschool sought to employ new members of staff to meet expected ratios for September 2023 and to recruit a bank staff member to help provide resilience in staffing numbers that can arise due to illness.
This financial year saw a substantial increase in income from fundraising and donation thanks to a return to our traditional fundraising calendar; unencumbered by the pandemic. The Trustees and Preschool staff collectively managed to raise £2,353 in additional funds through a series of events for children and their families. These fundraising events were opportunities not only for the raising of much needed funds but also opportunities to bring the community around Christchurch Preschool together.
The Preschool gives its thanks to the outgoing secretary and treasurer who stood down this academic year. Additional trustees have been recruited throughout the year and we will be recruited to increase the committee's number and seek out additional skills and expertise.
FINANCIAL REVIEW
Financial position
During this period, the preschool received £68,664 in income enabling the Charity to carry out its objectives of providing effective preschool education to children in the local community. Unfortunately, payments have exceeded receipts creating a significant loss for the year of £7,798 .
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The number of children attending preschool has steadily risen since the beginning of the academic year. The Trustees have agreed a staffing budget that relies on a significant increase in the number of children attending the setting. Close monitoring of the children on roll will be required to ensure that the charity is in a position to meet its financial obligations.
The charity continues to maintain a significant sum of reserves with which it can address this shortfall in income. In the upcoming academic year it will need to demonstrate constraint in expenditure as it sees its number on roll rise and income increase in order to reach a balanced budget.
Reserves policy
The Trustees would like to continue to hold 3 months reserve in order to cover a term’s expenses, as it is preferable to give parents a term’s notice to find alternative preschool education for their child. This has been calculated as approximately £19,000 based on this year’s costs.
At 31[st] July 2023 the CIO held reserves of £59,960 in the Unrestricted Fund.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Christchurch Preschool is a registered Charitable Incorporated Organisation (CIO). The activities are governed by a CIO Constitution registered 4 January 2018, as amended 1 August 2018.
Trustees are elected at the Annual General Meeting of the charity to serve for a period of two years from the date of their election. They are eligible for re-election after that period.
REFERENCE AND ADMINISTRATIVE DETAILS Registered (Company) number
CE012836 (England and Wales)
Registered Charity number
1176528
Address
Christchurch Preschool Ireton Road Colchester CO3 3NL
Trustees
Claudia Cronshaw - resigned September 2023 Rachel Frost Thomas Ward - resigned 1 September 2022 Kelly Turner - resigned February 2023 Chloe Ward - resigned 1 September 2022 Sophie Bacon James Bacon - appointed 1 September 2022 Rosie Sammons - appointed 1 September 2022 Charlotte Runicles - appointed 7 March 2023
Report of the trustees approved by order of the board of trustees on 13[th] March 2024 and signed on the board's behalf by:
Sophie Bacon Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHRISTCHURCH PRESCHOOL
Independent examiner’s report to the Trustees of Christchurch Preschool ('the Charitable Incorporated Organisation')
I report to the trustees on my examination of the accounts of the Charitable Incorporated Organisation for the year ended 31 July 2023
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trustee’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 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material 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 Trust 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.
Jacqueline Frost ACA TC Group 11 De Grey Square Dr Grey Road Colchester Essex CO4 5YQ
14[th] March 2024
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CHRISTCHURCH PRESCHOOL
RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 JULY 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Unrestricted | Restricted |
Total funds | Total funds | |
| fund | funds | |||
| £ | £ | £ | £ | |
| Receipts | ||||
| Donations and Commission | 1,618 | - | 1,618 | 89 |
| Government grants | 453 | - | 453 | 1,553 |
| Fundraising Events | 2,353 | - | 2,353 | 2,802 |
| Fees for Charitable Services | 63,161 | - | 63,161 | 67,261 |
| Refreshments and Milk | 1,046 | - | 1,046 | 1,299 |
| Miscellaneous | 33 | - | 33 | 166 |
| Total Receipts | 68,664 | - | 68,664 | 73,170 |
| Payments | ||||
| Cost of Fundraising Events | 868 | - | 868 | 635 |
| Salaries and National Insurance | 58,759 | - | 58,759 | 59,131 |
| Pension Contributions | 1,812 | - | 1,812 | 807 |
| Rent | 7,704 | - | 7,704 | 7,704 |
| Office Expenses | 1,369 | - | 1,369 | 485 |
| Insurance | 513 | - | 513 | 461 |
| Cost of Refreshments and Milk | 860 | - | 860 | 1,337 |
| Toys and Equipment | 341 | - | 341 | 148 |
| Staff Training | 430 | - | 430 | 304 |
| Registration Fees and Subscriptions | 255 | - | 255 | 150 |
| Sanitary / PPE | - | - | - | - |
| Cleaning and Maintenance | 269 | - | 269 | 71 |
| Accountant’s fees | 1,912 | - | 1,912 | 1,320 |
| Miscellaneous | 986 | - | 986 | 244 |
| Sub-total | 76,078 | - | 76,078 | 72,797 |
| Payment for Asset and Investment Purchases | ||||
| Purchase of Fixed Assets | 384 | - | 384 | 1,098 |
| Total Payments | 76,462 | - | 76,462 | 73,895 |
| Net Receipts / (Payments) | (7,798) | - | (7,798) | (725) |
| Transfers between funds | - | - | - | - |
| Net movement in funds | (7,798) | - | (7,798) | (725) |
| Cash Funds Brought Forward | 67,758 | - | 67,758 | 68,843 |
| Cash Funds Carried Forward | 59,960 | - | 59,960 | 67,758 |
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CHRISTCHURCH PRESCHOOL
STATEMENT OF ASSETS AND LIABILITIES AT 31 JULY 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total funds | Total funds | |
| fund | funds | |||
| £ | £ | £ | £ | |
| Cash Funds | ||||
| Bank Accounts | 59,945 | - | 59,945 | 67,635 |
| Petty Cash | 15 | - | 15 | 123 |
| Total Cash Funds | 59,960 | - | 59,960 | 67,758 |
| Other monetary assets | ||||
| Milk claim | - | - | - | 84 |
| Fees due | - | - | - | - |
| Total Other monetary assets | - | - | - | 84 |
| Assets retained for the Charities own use | ||||
| Computer Equipment | 1,775 | - | 1,775 | 1,451 |
| Projector | 80 | - | 80 | 80 |
| Credit card payment card reader | 60 | - | 60 | - |
| Total Assets | 1,915 | - | 1,915 | 1,531 |
| Liabilities | ||||
| Pension contributions | - | - | - | 87 |
| Milk creditor | - | - | - | 92 |
| Fees due | 40 | - | 40 | - |
| Paye/NI creditor | - | - | - | 312 |
| DBS checks | - | - | - | - |
| Total Liabilities | 40 | - | 40 | 491 |
Approved by the Board of Trustees on 13[th] March 2024 and signed on its behalf by:
Rosie Sammons Trustee
Sophie Bacon Trustee
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CHRISTCHURCH PRESCHOOL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2023
1. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2023 or 31 July 2022.
Trustees' expenses
Two (2022: Two) trustee received reimbursement for expenses totalling £968 (2022: £414), which were incurred on behalf of the Charitable Incorporated Organisation.
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