Low Moor Pre School
Registration number: 1176681 Annual Report and Financial Statements
31 August 2024
Low Moor Pre School
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' report | 2 |
| Trustees' responsibilities | 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 |
Low Moor Pre School Reference and Administrative Details
Charity name Low Moor Pre School Charity registration number 1176681 Principal office Lowmoor Evangelical Church WIGTON CA7 9QP Registered office Lowmoor Evangelical Church WIGTON CA7 9QP Trustees H Todhunter A Rear H Fell, Chair C Taylor, Vice Chair Accountant Dodd & Co Limited FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA1 2RW
Page 1
Low Moor Pre School
Trustees' Report for the Year Ended 31 August 2024
The financial statements have been prepared in accordance with the accounting policies set out in the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland.
Structure, governance and management
Lowmoor Pre School now has two sites running consecutively. Our original site of Lowmoor continues to run and is situated in the Evangelical Church on Lowmoor Road. Our second site was opened 9th October at Beckside to meet the ever growing need and demand for childcare in the community of Wigton. Both nurseries operate 50 weeks of the year between 8.00am – 5.30pm Monday – Friday for children. Lowmoor accommodates children up to reception age and Beckside up to the age of 3.
The Pre School is a Charitable Incorporated Organisation (CIO) and uses the model constitution for Childcare Providers, which was adopted by the trustees on 3 January 2018. The Pre School is ran by a committee of 4 members including the Chair and Vice Chair. The committee meet every 12 weeks with ad hoc meetings as required and hold an annual AGM with support from the Nursery Manager and Business Manager.
Trustees on appointment are provided with guidance from the Charity Commission on the duties and responsibilities of trustees and offered training as required.
Lowmoor is ran across two sites by a staff team of 23 which consists of 1 Nursery Manager, 1 Business Manager, 3 Deputy Managers, 5 Senior Practitioners, 7 Practitioners and 6 Apprentices.
Objectives and activities
Lowmoor’s mission is to provide a caring environment which makes children feel safe and to help children learn within a stimulating setting with skilled and passionate staff who work as a team and engage children while supporting families within our community.
The trustees endeavour to honour the trust which parents put in the Pre-School to nurture their children and give them quality care, whilst working within the guidelines of the early years foundation stage. We promote the professional development of all staff, to ensure they provide high quality experiences for all the children.
The Pre School aims to work as partners with parents and carers and offer flexibility that allows each child’s individual needs to be met, to promote equality and the inclusion of each child and their family.
Achievements and performance
The biggest achievement in 2024 was the opening of our second nursey at Beckside. This opportunity arose that we never envisaged and management were very keen to open a second setting to meet the needs of the community. It was evident that there was a need for care givers to find nursery spaces as we had a waiting list at Lowmoor for babies that were yet to be born and with the increase of funded places. The opening of Beckside has been somewhat challenging with delays in the OFSTED registration and many other hurdles. However, Beckside is now up and running which is a testament to the extremely hard work and dedication of the staff team. The Nursery Manager and Business Manager have worked incredibly hard over the summer months giving up their time and turning their hand at a wide range of tasks out of their remit and demonstrating such passion which the trustees are extremely grateful for. This has provided much needed childcare for the area as well as creating new jobs meeting the needs of the community.
Lowmoor have completed the upgrade to their outdoor provision as planned through the summer improving the outdoor learning experience and opportunities staff can offer the children which has already proven popular.
Hazel Group was launched at the nursery in the Autumn term 2023. The aim of this group is to join all different age groups to go out in the community and provide experiences in the setting. Examples of activities include the children supporting with food bank donations and visiting a local supermarket, visiting the local library and we have experiences in the setting where we have had a vet attend with some birds and a staff member bringing her tractor and talking to the children about her farm. Hazel Group has also made connections with the local infant school expanding their involvement in the community. This offers the children cultural capital allowing them to widen their knowledge and feel a sense of community.
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Low Moor Pre School
Trustees' Report for the Year Ended 31 August 2024
EY Log was launched in September 2023 to strengthen Lowmoor’s communication and HR systems. This has been a valuable investment proving to be an efficient platform for the setting to use. EY Log has improved communication between staff and the children’s care givers allowing staff to create daily diaries, notes and observations. Staff also create development journals for their key worker group allowing a child’s progress to be tracked, next steps created and reports generated for each term. It also provides a platform for any medical health care plans, allergies and incident/accident reports which are readily available for parents to view on the app. EY Log is a beneficial addition for the management team improving HR systems such as monitoring staff absences with the Bradford Factor, recording staff holiday entitlement and tracking ratios in each room ensuring staff are working within the Early Years framework.
Bambalinos and little learners proved to be a great success with fantastic reviews and feedback given from the care givers that attended with their children. However, unfortunately the decision was made not to continue to currently offer the provision at the end of 2023 due to low staffing numbers so we were unable to sustain the provision. Lowmoor Evangelical Church have since started running their own play group in the church so there is still an offering provided for the community.
Management
The Nursery and Business Manager continue to flourish in their positions promoting positive changes to the pre-school supporting staff, improving the provision to the children and improving systems to ensure a more streamlined effective management of the setting.
Following the resignation of our SENCO who left to pursue a teaching career in August 2024, the Nursery Manager has resumed this role which comes with a heavy workload. We currently have a staff member enrolled on SENCO training who will be supported by our Nursery Manager to take over this position on completion of the course in February 2025.
Lowmoor has appointed an additional Deputy Manager to work alongside the two existing deputies. All deputies are developing in their roles supporting the staff and management team and to meet the increasing work load and responsibility with the opening of Beckside ensuring a continuation of the high level of staff support given ensuring we have a happy healthy workforce.
To strengthen the governance of Lowmoor, we appointed one of our committee members as vice chair.
The management team’s hard work, dedication and continuation of going above and beyond has been evident in the success of the pre-schools high standards and the great reputation it holds in what has proved to be yet another challenging year.
Financial review
There has been necessary purchases and investments required to bring the Pre-School to the required standard by OFSTED and ensuring a quality provision to the children attending the setting. Expenditure reported also includes some of the costs for the setup of Beckside. To support with the set up costs of Beckside we kindly received a capital grant fund of £42,782.50 from Cumberland Council to support with the furnishing of Beckside which the committee and pre-school are extremely grateful for. We also used surplus reserves to provide some further equipment for Beckside and this is derived from a positive cash flow in previous years.
Forecasts suggest that we have now entered a period of stability although we do expect some challenges following the government budget 2024 meaning we are entering uncharted territory. The budget includes a rise of employers national insurance contribution from 13.5% to 15%, an increase of minimum wage of 6.7% and a reduction to £5000 allowance for tax contributions. This will be reflected in forecasting once more details are released. We do expect this to have an significant impact as staff wages are our biggest expense.
The year end reserves are £134,138, of which £71,305 are free reserves.
Fees & Funding
It was announced during the government budget 2023 that from April 2024, working parents of two-year-olds will be able to access 15 hours of free care, which was extended to all children aged 9 months and older from September 2024. We have now seen this introduced and funding rates are positive. There is some minor concern with regards to cashflow if the government introduce 30 hours funding in September 2025. This will be closely monitored and reported to the committee as we have more information.
Due to the significant rising costs of food and increase in rent at our Lowmoor site, it was agreed by the committee to increase fees by £1 from September 2024. This was communicated to our caregivers by letter in July and August to give notice to this effect.
Page 3
Low Moor Pre School Trustees. Report for tho Year Ended 31 August 2024 Oeeupaney We are currtrntly running at full capacity al our Lowmoor site and operating a waiting list. Management continue to keep in touch with ¢aregiveTS and offer spaces as they become available which is rnanaged throughout EY Log system. It continues to be unnecessary to advertsse spa¢e$ as we receive regular ènquirie$ requesting spaces lor childrèn especially witr the offering ol fundecj places in(xeasing. To meet the ever growng need for childcare places. Bed(sid8 was opened and offers nursery places from birth lo the ierm followng the child's 3rd birtttday when théy will be then digible for a pro-school plac8 in the local primary schools. As Lowrnoor is unable lo ac£ommodate the large numbers ol pre-schoc4erts, this is explained to caregivers when they enrol children at Beckside and support Is given to navigate any transitions. Numbers are healthy at 8eck&de and Ouf Sunfitlwer roorn for 2-3 year olds is running at lull coparyty. Our Daisy and Bluebell roorns are Increasing In numbers but not yet at fvll capaaty lo allow for all the new thildren to have a positive $tlIng in trxpellerce. recruitment ol staff and awaiting f¢y babies on the wailing list to be born We trnvisage both rooms running al lull capaoty by February 2025. Plans for th• lutur•iStratO9lc plonnlng To support with the additional Beckside site and the cA)ntinuation of Lowmoor, th8 ¢ommitte and rnanagement team's main aim Is lo ensure both nurseries are running effecbvely To athieve this will continue wth our rècruitment driv8 and training ol new staff m&mb&rs Our Business Manager Is enrolling on a HR Urse to MaximSe on her skills in the effective management of staffing The committee are w¢rkiThJ together to offer more support to ltte managernenl team and staff wth the ever growng Increase In workload in¢luding support wth back to work Interviews and rnonitoring staff absences which hav8 contsnued lo to d)allenging. The cornmittee also plan lo work Vrfith managernent to strengthen our siekn•$$ poli¢y and the m8n8gernent tearn continue to off¢r xt¥n$ive Support to the staff. Plan5 have begun to provide a outdoor area ai Beckside and a funding applicAtion to support wlh thi8 15 in the Ilnal stages. This wll provide an opportunity lor the thirdn al 8ecksidg to enjoy outdoor play further. Our Nursery Manager is planning further develowent ol the (rnI))1M applying tttis te our new 811è, retreshing on training and prowding support and training to staff ollwThJ thi5 to be implemented In the th•ir pra¢tise. The committee are looking to expand an¢J hope to welcome sorne new mernbers In lin& wth our ¢¢nstitulion and skill matching to the ne8d$ ¢1 Lovmioor. This 1$ to rnaxirnise the kncp•Aodge and expertise In the committee to strengthen the govemance and provide lurth8r support lo the management team. OFSTED Following an extended wait. OFSTED cornpleled Ihe registration inspeth'cn at Beckside which wa$ approved M 24th September. Prior to the Inspeaion the Nominated Individual INI) for OFSTED w9$ Changed to our vice chair whom Supported with the registration. The next inspection Is due wlhin the 30 months frorn the approval re9islralion date. INe took part in our QFSTED Inspectiw on 7th April 2025 and r8ceiv8d grading ol 'GOOD'. èra11, this wa5 a PgSItIVO eXPOrignce ¥nd ar• v•ry h8ppy Vth th8 ¢JJtcomg. Approved by the Trustees on 22 April 2025 and signed on their behall by.. C Taylor Trustee Page 4
Low Moor Pre School
Trustees' Responsibilities in relation to the Financial Statements
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards.
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 as amended by the Charities Act 2022, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Independent Examiner's Report to the Trustees of
Low Moor Pre School
I report on the accounts of the charity for the year ended 31 August 2024, which are set out on pages 7 to 15.
Your attention is to drawn to the fact that the Charity has prepared the financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.
We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.
Respective responsibilities of trustees and examiner
The Charity's trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 as amended by the Charities Act 2022 (the Act) and that an independent examination is needed.
The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.
It is my responsibility to:
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examine the accounts under section 145 of the Act;
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follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5) (b) of the Act; and
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state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act 2011 as amended by the Charities Act 2022; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of the Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
......................................... Joanne Thomlinson FCA Dodd & Co Limited Chartered Accountants
FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA1 2RW
22 April 2025
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Low Moor Pre School
Statement of Financial Activities for the Year Ended 31 August 2024
| Note Income and endowments from: Donations and legacies 2 Charitable activities 3 Total income Expenditure on: Charitable activities Total expenditure Net incoming/(outgoing) resources before transfers Transfers Gross transfers between funds Net movements in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Funds £ - 292,369 |
Restricted Funds £ - 42,782 |
Total Funds 2024 £ - 335,151 |
Total Funds 2023 £ 125 215,131 |
|---|---|---|---|---|
| 292,369 | 42,782 | 335,151 | 215,256 | |
| 306,961 | - | 306,961 | 238,887 | |
| 306,961 | - | 306,961 | 238,887 | |
| (14,592) 42,782 |
42,782 (42,782) |
28,190 - |
(23,631) - |
|
| 28,190 105,948 |
- - |
28,190 105,948 |
(23,631) 129,579 |
|
| 134,138 | - | 134,138 | 105,948 |
The notes on pages 9 to 15 form an integral part of these financial statements.
Page 7
Low hloor Pre School Balance Shegt as at 31 August 2024 2024 2023 Plxed asset8 Tangible Èsse 10 62,833 5.111 Current as$et8 Debtors Cash at bank and in hand 3,974 77.912 81.886 1,911 102,196 104, 107 Credltor•.' Amounts lalllng due vAthln on• y•ar 12 110.5811 13.2701 Nèt current ¥ets 71,305 1,837 Ntrt a88ets 134.138 105.948 Tho funds of th• ¢h4rlty: Restrlct•d funds Unre8trlct•d fund• Unrestricted income funds 134.138 105.948 Total ¢haYlty fund• The financial statements have been prepared in accpydancè Ihe Financi81 Reporb"ng Standard apicable in the UK and Republic ol Ireland IFRS 1021. 134,138 105,948 Approved by the 8oard on 22 April 2025 8nd swned ¢)n ts téh8lf by.. C Taylor Trustee The notès on pages 9 to 15 fomi an integral part ofthese frnanual statements. Page 8
Low Moor Pre School
Notes to the Financial Statements for the Year Ended 31 August 2024
1 Accounting policies
Statement of compliance
The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 as amended by the Charities Act 2022.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities:Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Basis of preparation
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
These financial statements have been prepared on a going concern basis.
Fund accounting policy
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Further details of each fund are disclosed in note 16.
Income and endowments
Donations and legacies income including donations and grants that provide core funding or are of a general nature is recognised where there is entitlement, probability of receipt and the amount can be measured with sufficient reliability.
Income from Government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.
Expenditure
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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Low Moor Pre School
Notes to the Financial Statements for the Year Ended 31 August 2024
......... continued
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Fixed assets
Individual fixed assets costing £100 or more are initially recorded at cost.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Equipment 10%/20% reducing balance basis Computer equipment 25% reducing balance basis
Cash and Cash Equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Operating leases
Rentals payable under operating leases are charged in the statement of financial activities on a straight line basis over the lease term.
Pensions
The charity operates a defined contribution pension scheme. Contributions are charged in the statement of financial activities as they become payable in accordance with the rules of the scheme.
2 Donations and legacies
| Donations and legacies Appeals and donations |
Unrestricted Funds £ - |
Restricted Funds £ - |
Total Funds 2024 £ - |
Total Funds 2023 £ 125 |
|---|---|---|---|---|
All of the donations and legacies income in 2023 rellated to unrestricted funds.
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Low Moor Pre School
Notes to the Financial Statements for the Year Ended 31 August 2024
......... continued
3 Charitable activities
| Pre School Grants - other agencies Fees and supplies Other income |
Unrestricted Funds £ 133,663 158,216 490 |
Restricted Funds £ 42,782 - - |
Total Funds 2024 £ 176,445 158,216 490 |
Total Funds 2023 £ 73,228 140,987 916 |
|---|---|---|---|---|
| 292,369 | 42,782 | 335,151 | 215,131 |
All of the income from charitable activities in 2023 related to unrestricted funds.
4 Expenditure
| Direct costs Equipment and toys Consumables Wages and salaries Staff NIC (Employers) Staff pensions Rent Repairs and maintenance Staff training Insurance Telephone and fax Printing, postage and stationery Sundry expenses Support costs Office expenses Advertising Accountancy fees Independent examiner's fee Legal and professional fees Bad debts written off Bank charges Depreciation of plant and machinery |
Pre School £ 1,860 9,788 248,481 7,384 3,832 9,400 4,415 2,703 792 1,228 400 2,650 |
Total 2024 £ 1,860 9,788 248,481 7,384 3,832 9,400 4,415 2,703 792 1,228 400 2,650 |
Total 2023 £ 1,085 6,000 197,184 3,961 3,231 9,000 2,986 2,189 654 1,022 318 1,255 |
|---|---|---|---|
| 292,933 | 292,933 | 228,885 | |
| 2,852 916 5,350 500 444 1,011 467 2,488 |
2,852 916 5,350 500 444 1,011 467 2,488 |
785 508 5,680 500 1,376 - 444 709 |
|
| 14,028 | 14,028 | 10,002 | |
| 306,961 | 306,961 | 238,887 |
All of the expenditure in 2023 related to unrestricted funds.
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Low Moor Pre School
Notes to the Financial Statements for the Year Ended 31 August 2024
......... continued
5 Governance costs
| Accountancy fees Independent examiner's fee Legal and professional fees |
2024 £ 5,350 500 444 |
2023 £ 5,680 500 1,376 |
|---|---|---|
| 6,294 | 7,556 |
6 Trustees' remuneration and expenses
No trustees received any remuneration during the year.
7 Net incoming/(outgoing) resources
Net incoming/(outgoing) resources is stated after charging:
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation of owned assets | 2,488 | 709 |
8 Employees' remuneration
The monthly average number of persons (including senior management) employed by the charity during the year was as follows:
| Charitable activities The aggregate payroll costs of these persons were as follows: Wages and salaries Social security Other pension costs |
2024 No. 17 2024 £ 248,481 7,384 3,832 259,697 |
2023 No. 17 |
|---|---|---|
| 2023 £ 197,184 3,961 3,231 |
||
| 204,376 |
No employee received emoluments of more than £60,000 during the year.
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Low Moor Pre School
Notes to the Financial Statements for the Year Ended 31 August 2024
......... continued
9 Taxation
The registered charity is exempt from taxation on income and gains.
10 Tangible fixed assets
| Cost As at 1 September 2023 Additions As at 31 August 2024 Depreciation As at 1 September 2023 Charge for the year As at 31 August 2024 Net book value As at 31 August 2024 As at 31 August 2023 Debtors Trade debtors Other debtors Prepayments and accrued income Creditors: Amounts falling due within one year Trade creditors Taxation and social security Other creditors Accruals and deferred income |
2024 £ 358 - 3,616 3,974 2024 £ 467 4,566 1,667 3,881 10,581 |
Fixtures, fittings and equipment £ 7,496 60,210 67,706 2,385 2,488 4,873 62,833 5,111 2023 £ - 821 1,090 |
|---|---|---|
| 1,911 | ||
| 2023 £ 648 - 637 1,985 |
||
| 3,270 |
11 Debtors
12 Creditors: Amounts falling due within one year
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Low Moor Pre School
Notes to the Financial Statements for the Year Ended 31 August 2024
......... continued
13 Operating lease commitments
As at 31 August 2024 the charity had total future minimum lease payments under non-cancellable operating leases as follows:
| Within one year Within two and five years |
Land and Buildings 2024 £ 2023 £ 13,500 - 57,000 - 70,500 - |
Other 2024 £ 2023 £ 2,847 - 10,144 - 12,991 - |
Other 2024 £ 2023 £ 2,847 - 10,144 - 12,991 - |
|---|---|---|---|
| - |
14 Pension scheme
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the charity to the scheme and amounted to £3,832 (2023 - £3,231).
Contributions totalling £1,667 (2023 - £637) were payable to the scheme at the end of the period and are included in creditors.
15 Related parties
Controlling entity
The charity is controlled by the trustees.
16 Analysis of funds
| General Funds Unrestricted income fund Restricted Funds Cumberland Childcare Revenue Grant |
At 1 September 2023 £ 105,948 - 105,948 |
Incoming resources £ 292,369 42,782 335,151 |
Resources expended £ (306,961) - (306,961) |
Transfers £ 42,782 (42,782) - |
At 31 August 2024 £ 134,138 - |
|---|---|---|---|---|---|
| 134,138 |
Cumberland Childcare Revenue Grant - A capital grant to repurpose or use surplus space to expand or create a new setting.
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Low Moor Pre School
Notes to the Financial Statements for the Year Ended 31 August 2024
......... continued
Prior period
| General Funds Unrestricted income fund |
At 1 September 2022 £ 129,579 |
Incoming resources £ 215,256 |
Resources expended £ (238,887) |
At 31 August 2023 £ 105,948 |
|---|---|---|---|---|
17 Transfers
The transfer from restricted funds to unrestricted funds represents restricted funds received to purchase fixed assets. Once the assets were purchased the original restriction on the funds was met and the assets were therefore transferred to unrestricted funds, to reflect the fact that they are unrestricted in use.
18 Net assets by fund
| Tangible assets Current assets Creditors: Amounts falling due within one year Net assets Prior period Tangible assets Current assets Creditors: Amounts falling due within one year Net assets |
Unrestricted Funds £ 62,833 81,886 (10,581) 134,138 Unrestricted Funds £ 5,111 104,107 (3,270) 105,948 |
Total Funds 2024 £ 62,833 81,886 (10,581) 134,138 Total Funds 2023 £ 5,111 104,107 (3,270) 105,948 |
Total Funds 2023 £ 5,111 104,107 (3,270) 105,948 Total Funds 2022 £ 2,900 128,344 (1,665) |
|||
|---|---|---|---|---|---|---|
| 129,579 |
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