2024-03-31-accounts - Marlow Opportunity Playgroup

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Trustees Annual Report for the period 1 April 2023 — 31 March 2024

Charity Name: Marlow Opportunity Playgroup Registered Charity number: 1177581

Charity's principal address :

Scout HQ

Watery Lane

Woburn Green

HP10 ONE

Names of the charity Trustees who manage the charity:

Paul Finch, Chair
John Prout, Vice-Chair
Sherida Atherton, Treasurer
Catherine Austin, Governance
Susan Smith, Secretary
Jane Gibbons

Structure, Governance and Management

The year ended March 2024, was our third full financial year as a CIO. Marlow Opportunity playgroup operated for many years as an unincorporated charity with all assets moved to the CIO effective January 1st 2021.

The CIO operates under a Foundation Model Constitution and currently holds an Outstanding Ofsted rating.

Objectives and Activities

Our objectives and activities remain to provide a safe, caring and stimulating environment where children, primarily with special needs can learn through play. To operate under charitable status managed by a voluntary committee and run by qualified staff.

The main activities undertaken for the public benefit are:

To advance the education of children, in particular but not exclusively, those with special needs through the provision of nursery and pre-school care.

To advance the education and training of persons in the provision of such pre-school care.

Achievements and Performance

The year ended March 2024 was successful and rewarding for Marlow Opportunity Playgroup (MOP), delivering a full and varied programme to our current cohort of special children.

The children on MOP’s register have a wide range of complex physical, learning and medical needs that require a high staff to child ratio (often 1:1) and lots of therapeutic input. This is very expensive and only the generous donations we receive make this possible. MOP is very fortunate to receive fantastic financial support from the local community as well as from national grants.

Demand for places at MOP is high. We currently have 28 children on our register, with six children on the waiting list, to whom we are currently unable to offer a place.

We always look for ways to enhance the playgroup offering with rich and diverse experiences that help to develop each child’s potential. Donations and grants help MOP to offer a full programme of music therapy as well as all the essential opportunities for these special children to learn through play, outings, and even duck-egg hatching.

In March 2024, MOP received a grant from the Speech Language and Hearing Foundation which is providing a wonderful opportunity for the children currently at MOP. The Foundation’s grant enables MOP to access the expertise of The Pace Centre – a charity specialising in infant neurodisability – to assess the needs of our children and to provide training and advice to our staff. These early alternative communication interventions can be transformative to a child’s development.

Future Outlook

Since the end of the financial year, we received the news that Bucks County Council is unable to continue to provide the High Needs Block Funding (HNBF), which has been an essential component of our sustainability over the past few years. HNBF provided additional financial support to MOP for children who do not have an Education Health and Care Plan (EHCP) and as such, are not provided with additional funding. MOP works with the families and therapists involved to develop EHCPs, but these are often in place only in time for the child to move onto their next setting. The High Needs Block Funding was effectively ‘topping up’ the Early Years Funding in recognition that MOP provides a vastly different level of support to mainstream settings. In the year to March 2024, the HNBF received by MOP was £20,473. The Trustees recognise that replacing this funding is an immediate and pressing objective.

Financial Performance

MOP received income over the financial year of £292k, of which 62% comes from grants and donations. Expenses for the year were £314k resulting in an operating deficit of £22.3k. The deficit was met by our reserves.

Reserves

It is the intention of the Trustees to build a reserve equal to nine months’ operating costs. Based on the year ended March ’24, the intended reserve equates to £236k. Our ambition is to ensure

that if one of our main funding sources is discontinued, we could remain open until alternative provision is found for the children on the register. At year-end reserves stand at £154k, which is £82k short of our target.

Declaration

The Trustees declare that they have approved the trustee's report above. Signed on behalf on the charity's trustees

Signature(s)

Full name(s) Paul Finch Position CHAIRMAN TRUSTEE

MARLOW OPPORTUNITY PLAYGROUP

Registered Charity number 1177581

Financial Statements for the year ended 31 March 2024

STATEMENT OF FINANCIAL ACTIVITES

FOR THE YEAR ENDED 31 MARCH 2024

Notes INCOMING RESOURCES Voluntary income 3[a] Activities for generating funds 3[b] Investment income 3[c] TOTAL INCOMING RESOURCES RESOURCES USED Charitable activities 4 TOTAL RESOURCES EXPENDED NET INCOMING RESOURCES / [EXPENDITURE] TRANSFER BETWEEN FUNDS NET MOVEMENT IN FUNDS BALANCES BROUGHT FORWARD AT 1 APRIL BALANCES CARRIED FORWARD AT 31 MARCH	Unrestricted funds 247,722 14,085 2,071 263,878 286,208 286,208 (22,330) - (22,330)	Restricted funds 28,272 28,272 28,272 28,272 - - -	Total funds 2024 Total funds 2023 275,994 272,228 14,085 7,879 2,071 690 292,150 280,798 314,480 267,259 314,480 267,259 (22,330) 13,538 - - (22,330) 13,538 176,169 162,631 153,839 176,169	Total funds 2024 Total funds 2023 275,994 272,228 14,085 7,879 2,071 690 292,150 280,798 314,480 267,259 314,480 267,259 (22,330) 13,538 - - (22,330) 13,538 176,169 162,631 153,839 176,169	Total funds 2024 Total funds 2023 275,994 272,228 14,085 7,879 2,071 690 292,150 280,798 314,480 267,259 314,480 267,259 (22,330) 13,538 - - (22,330) 13,538 176,169 162,631 153,839 176,169
				13,538 - 13,538 162,631	13,538
					- 13,538
				176,169

BALANCE SHEET

AS AT 31 MARCH 2024

----- Start of picture text -----
Notes 2023-24 2022-23
FIXED ASSETS - -
CURRENT ASSETS
Cash in bank and in hand 9,824 13,413
Short term deposits 130,504 163,433
Debtor - BCC Spring Term payments 5 16,595
TOTAL CURRENT ASSETS 156,923 176,846
CURRENT LIABILITIES
Sundry creditors and accruals 6 3,083 676
Deferred income 7
NET CURRENT ASSETS 153,840 176,170
TOTAL NET ASSETS 153,840 176,170
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For the year ending 31 March 2024, the organisation was entitled to exemption from audit under section 477of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and in accordance with FRS102 SORP.

Signed: ............................................ Paul Finch

Notes to the accounts

Note 1 Basis of preparation

1.1 Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:

Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);

• and with*  Accounting Standards;

or Financial Reporting Standards for Smaller Enterprises (FRSSE);

and with the Charities Act.

1.2 Change in basis of accounting

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year

1.3 Changes to previous accounts

No changes have been made to accounts for previous years

Notes to the Accounts (continued)

3. INCOMING RESOURCES

Restricted Funds

Unrestricted funds represent the funds of Marlow Opportunity Playgroup that are not subject to any restrictions regarding their use, and are available for application on the general purpose of the paygroup.

Restricted funds represent donations and grants received for a specific objective, and may only be expended on the specific objective for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund.

Restricted funds recognised in these accounts relate to: [1] The Big Lottery fund. We received £28,272 between April '23 - March '24 to fund the role of Playgroup Supervisor.

INCOMING RESOURCES Unrestricted Restricted Big Lottery 3[a] Voluntary income Funding 51,966 Support Assistance 86,089 Grants 50,982 28,272 Fees 11,151 Donations 44,129 Coronavirus Job Retension Sc - Other 3,406 247,722 28,272 3[b] Activities for generating funds Fundraising 14,085 - 3[c] Investment Income Bank deposit interest 2,071 - 3[d] Incoming Resources 4. RESOURCES USED Unrestricted Restricted Big Lottery Charitable activities Staff Costs 240,691 28,272 Transport Rent 7,695 Services 9,089 Training 725 Equipment & materials 18,233 Expenses 679 Other 9,095 286,208 28,272 5. DEBTORS Current Debtors - Spring Term receipt from BCC 6. CURRENT LIABILITIES (Creditors and Accruals) [a] Sundry creditors and accruals PH Cleaning HMRC - PAYE		2024 2023 51,966 37,716 86,089 74,191 79,254 58,561 11,151 4,690 44,129 90,798 - - 3,406 6,271 275,994 272,228 14,085 7,879 2,071 690 292,150 280,798 2024 2023 268,963 223,433 - - 7,695 5,796 9,089 9,516 725 1,944 18,233 18,478 679 2,400 9,095 5,692 314,480 267,259 2024 2023 16,595.09 - 2024 2023 - 676 3083 3,083 676 Total Funds Total Funds

7. RESERVES

It is the intention of Marlow Opportunity Playgroup to operate with a reserve equal to nine month's operating costs in order to build financial resilience. Our income varies depending on a number of factors and we need to be able to cover costs and sustain playgroup places for children in the event of a funding shortfall for at least nine months.

Notes to the accounts (cont)

Note 8 Details of certain items of expenditure

8.1 Trustee expenses

Number of trustees who were paid expenses Nature of the expenses Total amount paid

----- Start of picture text -----
This year Last year
None None
£0 £0
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8.2 Fees for examination or audit of the accounts

Independent examiner’s or auditors' fees for reporting on the accounts

Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor

	This year £ None	Last year £ None
	None	None

Note 9 Paid employees

9.1 Staff Costs

Gross Wages, Salaries and Benefits in Kind Employer's National Insurance costs Pension costs	This year £ Last year £ 218,567 183,410 38,284 30,767 12,112 11,210
	268,963 225,387

9.2 Average numberof full-time equivalent employees in the year

All paid employees at Marlow Opportunity Playgroup work in the playgroup setting.

Fundraising Charitable activities Governance Other	This year Last year 0 0 10 10 0 0 0 0
	10 10

9.3 Defined contribution pension scheme

A defined contribution scheme is operated (using Nest Pensions), in accordance with employment law.If an employees earns £10,000 per year they are automatically enrolled, but all employees have the option to join. Playgroup contributes 3%, employee pays 5%.

The costs of the scheme to the charity in the year The amount of any contributions outstanding at the end of the year The amount of any contributions prepaid at the end of the year	This year Last Year N/A N/A N/A N/A N/A N/A

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trustees Cn3rily Name IkiA ILOW On accounts for the year onded 31 MftILkl lo Charity no lif any) IillC¥I Set out on pages Ir8m&mber lo Include Ihe page numbprs ol additional sheelsl I report to the trustees on my examination of the accounts of the above charity ('the Trust") for the year ended 3 11 ts'31 Lc+ L As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'the Act.). Responslbllltles and basis of report I r8POrt in respect of my examination of the Trust's accounts carried out under section 145 ofthe 2011 Act and in carying out my examination, I have followed all the applicable Directions giv8n by th8 Charity Commission und8r section 145151{b} of the Act. Independent tTh8 charity's gross income exc8ed8d £250.000 and l am qualified to examinorf8 Statement undertake the examination by being a qualified member of, Li4Aif¢LEts I.[irr[£ lik MhtJA&EMocir rtcLouMTitfJrs I have completed my examination. I confimi that no material m8tt8rs have come to my attention in connection with the examination lolher than that disclosed below "I which gives me cause to believe that in. any material respect.. the accounting records were not kept In a¢¢ordance with section 130 of the Charities Acl., or the accounts did not accord with the accounting records., or the accounts did not comply wilh the applicable requirements concerning the forrn and content of accounts set out in the Charities {Ac¢ounls and Reports) Regulalions 2008 olher than any requirement that the accounts give a 'lrue and fair, view which is not a matter consiéered 8S Part of an independent examination. I have no concerns and have come across no other matters in connection with the examination lo which attgntior) should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Please delete the words in the brackets if they do not apply. Signed: Date: 2024 Name: Rolevant professlonal quallficatlonls) or body 0 4AQ'.feof g IER

(if any): Address: IS Fn Lf f - Op4- 7H£- SOLE (Tris qoF Section B Disclosure Only complete if Ihe examiner needs to highlight material rnatters of concern (see CC32, Independent examination of charity accounts.. directions and guidan for examiners). Give horè brièf dètalls of any Items that the examiner wishes to dlsclose. IER