JACK AND JILL PRE-SCHOOL BICESTER CHARITABLE INCORPORATED ORGANISATION
COMPANY NUMBER: CE012998
ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023
Jack and Jill Pre-School Bicester - Charitable Incorporated Organisation Charity Information Year Ended 31 August 2023
| Charity Name: | Jack and Jill Pre-School Bicester |
|---|---|
| Charitable Incorporated Organisation | |
| Company Number: | CE012998 |
| Chairperson: | Laura Collier |
| Secretary | Clare Doolan |
| Treasurer | Trevor Dodd |
| Principle Address | Queens Avenue |
| Bicester | |
| Oxon | |
| OX26 2NR | |
| Independent Examiners: | VT Accountancy |
| Chartered Certified Accountants | |
| Unit 5B | |
| Willows Gate | |
| Stratton Audley | |
| Oxon | |
| OX27 9AU |
Jack and Jill Pre-School Bicester - Charitable Incorporated Organisation Contents Year Ended 31 August 2023
| Page | |
|---|---|
| Trustees Report | 1-3 |
| Independent Examiners Report | 4 |
| Statement of Income & Expenditure | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7-11 |
Jack and Jill Pre-School Bicester Charitable Incorporated Organisation Trustees' Report
Year Ended 31 August 2023
Objectives and activities
The charity seeks to enrich the development and education of children primarily under statutory school age by enhancing the professional development and career opportunities of staff by;
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Evaluating performance and professional standards
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Setting professional development targets for all preschool staff
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Devising budgets for staff training and professional development
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Securing funding for additional training in specialists areas
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Encouraging staff to apply for promotions and providing relevant training courses to develop their knowledge and understanding
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Management having completed Specialist Safeguarding training including Chairperson (Trustee). Chairperson (Trustee) and Preschool Manager having also completed PREVENT training and child protection development
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Continue to operate a ‘buddy’ scheme for staff to pair and share good practice, and support each other’s development following previous successes
Achievements and performance
The interest in the preschool is high and continues to have a healthy waiting list for all three rooms, for the coming and future years.
Ofsted inspection during 2021 awarded the setting with an Outstanding rating and we continue to uphold this status with lots of great feedback from existing and previous families.
Financials
Our preschool continues to have a high number of funded 2 year olds and 3 year olds, however we still do not have a high level of income from invoiced hours (non-funded children) therefore we heavily reliant on the government funding i.e. increasing our hourly rates for invoiced children doesn’t have a massive impact on our income. The minimal increase in government funding and high increases in NMW (national minimum wage) are unfortunately proving that government funding is not a reliable source of income, and we are becoming more dependent on adhoc government grants.
We have seen an increase in costs for utilities and have such increased our budgeted spend to accommodate further increases due to the fluctuations seen in the global market.
Staff wages are in line with current expectations and we always aim to proportional increase all staff wages when the hourly rate for the minimum wage increases each year.
We have a reasonably healthy financial account and we still manage to ensure we have three months running costs within our main account.
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Jack and Jill Pre-School Bicester Charitable Incorporated Organisation Trustees' Report
Year Ended 31 August 2023
We also continue to maintain approximately 4 months of salary, tax, NI, and pension costs in a separate account, i.e. £80K for emergency payments should we need to temporarily close.
We investigated the options we had regarding replacing the roof, but unfortunately the Council were not in agreement that prevention was better than cure (from a ‘ repair the roof ’ perspective), therefore we are currently not pursuing this as the Council felt the roof was adequate for the time being. We will monitor the situation with the roof and will follow up with the Council should it become worse.
Plans for the future
We are at full capacity so are doing well from a waiting list perspective. We have no immediate plans to change anything significant in the preschool.
We are however looking to implement online learning journals that allow us to communicate photos, videos, achievements etc to the parent(s) for the day / week that their child was attending the setting, and capture relevant observations.
Structure, governance and management
The original charity was established in 1993, with the newly formed Charitable Incorporated Organisation being established August 2018.
The trustees who served during the period of 1[st] September 2022 to 18[th] October 2022 were;
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Laura Collier (appointed April 2016)
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Trevor Dodd (appointed November 2017)
The trustees were reduced to Laura Collier and Trevor Dodd whilst a third trustee was being sought. This meant that the trustees were no longer be able to meet unless it is to appoint a third trustee. The preschool was deemed well equipped to run whilst we sourced the third person.
The trustees held an Exceptional Trustee’s meeting on the 18[th] October 2022, to appoint a new trustee, Clare Doolan. Clare signed all the relevant paperwork, and has agreed to complete the relevant training.
During this meeting we also updated our written resolution;
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The object of the CIO shall be change to ‘To enhance the development, education, support and wellbeing of children primarily under statutory school age’
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Removal of Clause 12 subclause 3
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Clause 10 subclause 1 shall be changed to ‘…every trustee must be appointed for a minimum term of one year by a resolution passed at a properly convened meeting’
The trustees who served during the period of 18[th] October 2022 to 31[st] August 2023 were;
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Laura Collier (appointed April 2016)
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Trevor Dodd (appointed November 2017)
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• Clare Doolan (appointed October 2022)
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Jack and Jill Pre-School Bicester Charitable Incorporated Organisation Trustees' Report
Year Ended 31 August 2023
Jack and Jill Pre-School is a member of the Pre-School Learning Alliance, and is regulated and inspected by OFSTED. The Trustees meet with the Preschool Manager approximately once a year to discuss and review how the preschool is running, review the financials, review the forecast and discuss any major purchases. Trustees participate in adhoc meetings to support specific discussions / topics. Trustees are continually in discussion with office staff over email.
The Trustee who takes the role of Chairperson, meets with the Preschool Manager approx every 6 week term, to discuss any staffing issues and the day to day running of the preschool.
The Trustees employ the Pre-School staff and deal with all Staff issues such as pay, training, employment contracts and performance reviews. Office staff are entrusted with the day to day management and financials regarding the preschool. All office purchases made inline with allocated budget are regarded as pre-approved; non budgeted expenses require additional authorisation to be obtained from a minimum of two Trustees.
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 Charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the Trustee are required to;
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Select suitable accounting policies and then apply them consistently;
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable accounting standards and statements of recommended practice have been followed subject to any 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 accounting records which 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. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees’ report was approved by the Board of Trustees.
Laura Collier, Trustee (Chairperson)
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Jack and Jill Pre-School Bicester - Charitable Incorporated Organisation Independent Examiners Report Year Ended 31 August 2023
I report on the accounts of the Charity for the Period ended 31 August 2023, which are set out on pages 5 to 6.
Respective responsibilities of the Trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed:-
It is my responsibility to:
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examine the accounts under Section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under Section 145(5)(b) of the 2011 Act; and
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to state when particular matters have come to our 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:
which gives us 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 2011 Act; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
| Victoria Thomas | 26 Mar 2024 |
|---|---|
| _______ | ___ |
| Mrs V J Thomas | Date |
| F.C.C.A |
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Jack and Jill Pre-School Bicester - Charitable Incorporated Organisation Statement of Income and Expenditure Year Ended 31 August 2023
| YE/ 31/08/23 | Y/E 31/08/22 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Incoming From | |||
| Charitable activities | 2 | 199,765 | 280,177 |
| Restricted Funds | - | 1,090 | |
| Investments | 3 | 693 | 46 |
| Grant income | - | 7,150 | |
| Rental Income | - | - | |
| __ | __ | ||
| Total Incoming Resources | 200,458 | 288,463 | |
| Expenditure on: | |||
| Charitable activities | 4 | 229,289 | 220,156 |
| __ | __ | ||
| 229,289 | 220,156 | ||
| Net movement in funds | (28,831) | 68,307 | |
| Fund balances at 31 August 2022 | 241,373 | 173,066 | |
| __ | __ | ||
| Fund balances at 31 August 2023 | £ 212,542 | £ 241,373 |
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Jack and Jill Pre-School Bicester - Charitable Incorporated Organisation Balance Sheet Year Ended 31 August 2023
| Y/E 31/08/23 | Y/E 31/08/22 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Fixed Assets | 5 | 18,063 | 13,595 |
| Current Assets | |||
| Nursery Fees Due | 12,823 | 12,460 | |
| Prepayments | 795 | 791 | |
| Santander Savings Account | 135,571 | 134,878 | |
| Lloyds Current Account | 58,318 | 93,004 | |
| Cash in hand | 132 | 32 | |
| PAYE Debtor | - | 2,650 | |
| _ | _ | ||
| Total Assets | 225,704 | 257,410 | |
| Current Liabilities | |||
| Creditors - Short Term | 485 | (25) | |
| Accruals and Deferred Income | (13,278) | (16,012) | |
| PAYE Creditor | (369) | - | |
| __ | __ | ||
| Total Assets less Total Liabilities | £ 212,542 | £ 241,373 | |
| Income funds | |||
| Unrestricted funds | 6 | 211,156 | 239,577 |
| Restricted funds | 1,386 | 1,796 | |
| __ | __ | ||
| £ 212,542 | £ 241,373 |
The balance sheet was approved by the Trustees and signed on their behalf:
26 Mar 2024 ___ ___ Laura Collier Date Trustee – Chairperson
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Jack and Jill Pre-School Bicester - Charitable Incorporated Organisation Notes to the Accounts Year Ended 31 August 2023
1. Accounting Policies
- 1.1 These accounts have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (FRS102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102, the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 1 January 2019. The charity is a Public Benefit Entity as defined by FRS 102.
The accounts 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 the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The accounts are prepared in Sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principle accounting policies adopted are set out below.
1.2 Going concern
The CIO was set up on 22[nd] January 2018, the charity began to operate on 1[st] August 2018 when all of the assets and liabilities from Jack and Jill Pre-School charity number 1028631 were transferred to the CIO. The trustees continue to adopt the going concern basis of accounting in preparing the accounts.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Grants were received from OCC in this period for distribution to families, this grant has not been utilized in full and has therefore been carried forward as restricted funds.
1.4 Incoming resources
Income is recognized when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
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Jack and Jill Pre-School Bicester - Charitable Incorporated Organisation Notes to the Accounts Year Ended 31 August 2023
1.5 Resources expended
Expenses are included in the financial statements as they become due
Expenses include VAT where applicable as the charity cannot reclaim it.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognized so as to write off the assets less their residual values over their useful lives on the following basis:
Leasehold improvements 10% Straight line Equipment 20% Straight line Computers 20% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditure) for the year.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
2. Charitable activities
| Y/E 31/08/23 Y/E 31/08/22 | Y/E 31/08/23 Y/E 31/08/22 | |
|---|---|---|
| £ | £ | |
| Fees | 199,290 | 279,644 |
| Fundraising net income | 470 | 322 |
| Other incoming resources | 5 | 211 |
| __ | __ | |
| £ 199,765 | £ 280,177 |
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Jack and Jill Pre-School Bicester - Charitable Incorporated Organisation Notes to the Accounts Cont’d/… Year Ended 31 August 2023
3. Investments
| Y/E | 31/8/23 Y/E 31/08/22 | 31/8/23 Y/E 31/08/22 | |
|---|---|---|---|
| £ | £ | ||
| Interest receivable | £ 693 | £ 46 |
4. Charitable activities
| Charitable activities | ||
|---|---|---|
| Y/E 31/08/23 Y/E 31/08/22 | ||
| £ | ||
| Purchases | 548 | 1,181 |
| OCC Grant Distributions | 410 | 6,060 |
| Wages | 170,970 | 164,022 |
| Employers pension | 4,941 | 4,732 |
| Telephone | 1,574 | 1,036 |
| Cleaning materials, biscuits and drinks | 3,281 | 1,187 |
| Play materials and equipment | 5,820 | 4,800 |
| Trips, entertainment | 619 | 1,246 |
| Postage, stationery, advertising and photocopying | 918 | 363 |
| Computer expenses | 300 | 758 |
| Insurance | 1,191 | 1,163 |
| Subscriptions | 2,116 | 2,236 |
| Rent | 7,812 | 7,232 |
| Light and heat | 4,203 | 2,903 |
| Repairs and renewals | 6,209 | 3,798 |
| Accountancy | 3,463 | 3,252 |
| Sundry expenses | 224 | 279 |
| Staff training | 2,014 | 1,741 |
| Hire of equipment | 3,087 | 3,221 |
| Staff Entertaining | 2,690 | 1,411 |
| Bank charges | - | - |
| Bad debts | - | 1,985 |
| Legal and professional fees | 212 | 281 |
| Charitable Donation | 150 | - |
| Advertising | - | 25 |
| Depreciation | 6,423 | 5,244 |
| Profit/Loss on disposal of assets | 114 | - |
| __ | __ | |
| £ 229,289 | £ 220,156 |
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Jack and Jill Pre-School Bicester Charitable Incorporated Organisation Notes to the Accounts Cont’d/… Year Ended 31 August 2023
| 5. Fixed Assets Computer Office L/Hold Equip Equip Improv. £ £ £ Cost Cost B/Fwd as at 01/09/2022 1,903 20,935 7,231 Additions 1,166 9,840 Disposals (894) (2,961) - __ _ _ Cost C/Fwd as at 31/08/2023 £ 1,009 £ 19,140 £ 17,071 Depreciation Depreciation B/Fwd as at 01/09/2022 1,353 12,626 2,495 Charge for year 354 4,362 1,707 Disposals (884) (2,858) - ___ Depreciation C/Fwd as at 31/08/2023 £ 823 £ 14,130 £ 4,202 Net Book Value As At 31/08/2023 £ 186 £5,010 £ 12,869 As At 01/09/2022 £ 550 £ 8,309 £ 4,736 6. Statement of Movement in Funds At Income Expenditure 01/09/22 £ £ £ Unrestricted Funds 239,577 200,458 228,879 Restricted Funds 1,796 410 __ __ __ Total Funds £ 241,373 £ 200,458 £ 229,289 |
Total £ 30,069 11,006 (3,857) _ £ 37,218 16,474 6,423 (3,742) ______ £ 19,155 £ 18,065 £ 13,595 At 31/08/23 £ 211,156 1,386 __ £ 212,542 |
Total £ 30,069 11,006 (3,857) _ £ 37,218 |
|---|---|---|
16,474 6,423 (3,742) ______ £ 19,155 |
||
£ 18,065 |
||
£ 13,595 |
||
| Unrestricted Funds Restricted Funds Total Funds |
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Jack and Jill Pre-School Bicester Charitable Incorporated Organisation Notes to the Accounts Cont’d/… Year Ended 31 August 2023
7. Trustees
One of the Trustees, Mr Trevor Dodd, is the father of the pre-school manager. The Preschool manager’s remuneration is agreed by all Trustees.
8 . Employees
Number of employees
The average monthly number of employees during the period was:
| Y/E 31/08/23 Y/E 31/08/22 | Y/E 31/08/23 Y/E 31/08/22 | |
|---|---|---|
| Jack and Jill Preschool | 14 | 15 |
| Employment costs | ||
| Y/E 31/08/23 Y/E 31/08/22 | ||
| Wages and salaries | £ 170,970 | £ 164,022 |
| There were no employees whose annual salary was £60,000 or more. |
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