Charity number: 1181327
PARKWOOD CHRISTIAN FELLOWSHIP PRESCHOOL
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PARKWOOD CHRISTIAN FELLOWSHIP PRESCHOOL
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 3 |
| Independent Examiner's Report | 4 - 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 - 14 |
PARKWOOD CHRISTIAN FELLOWSHIP PRESCHOOL
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022
Trustees Betty Abraham Lesley Saiche Paula Tewes Lauren Reid Charity registered number 1181327 Principal office Parkwood Christian Fellowship Parkwood Green Gillingham ME8 9PN
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PARKWOOD CHRISTIAN FELLOWSHIP PRESCHOOL
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees present their annual report together with the financial statements of the Parkwood Christian Fellowship Preschool for the year 1 January 2022 to 31 December 2022.
Objectives and activities
a. Policies and objectives
The management and staff have continued to ensure that the children have the best experience possible during their time at Pre-school.
The management have spent wisely by sourcing better deals for equipment and supplies. The number of children attending receiving 15-to-30-hour funding has been encouraging and the three afternoon sessions, Woodpeckers, continue to be popular, as are the two lunch only days. Income consists of fees from the under threes and Nursery Funding for two, three and four years olds. Income varies from month to month as it is dependent on how many days the Pre-school is open within that month and on how much Nursery funding is received.
Our total income for 2022 was a little over £155,292, whilst our expenditure was a little over £152,331. Parental support for the Pre-school is very good and fund-raising activities are well supported. Along with a dedicated, passionate staff the Pre-school is also supported by parent volunteers. The Pre-school is well known within the community and most of the children that attend live locally.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
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PARKWOOD CHRISTIAN FELLOWSHIP PRESCHOOL
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Structure, governance and management
a. Constitution
Parkwood Christian Fellowship Preschool is a registered charity, number 1181327, and is constituted under a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
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PARKWOOD CHRISTIAN FELLOWSHIP PRESCHOOL
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & 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 its incoming resources and application of resources, including its income and expenditure, 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 of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
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 adequate accounting records that are sufficient to show and explain the Charity's transactions and 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, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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.
Approved by order of the members of the board of Trustees on 30 April 2023 and signed on their behalf by:
Betty Abraham
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PARKWOOD CHRISTIAN FELLOWSHIP PRESCHOOL
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
Independent Examiner's Report to the Trustees of Parkwood Christian Fellowship Preschool ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2022.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to 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 been withdrawn.
I 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 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
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PARKWOOD CHRISTIAN FELLOWSHIP PRESCHOOL
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed:
Dated: 30 April 2023
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PARKWOOD CHRISTIAN FELLOWSHIP PRESCHOOL
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Kolade Andrew Alli ACMA
10 Gatcombe Gardens
West End Hampshire SO18 3NA
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PARKWOOD CHRISTIAN FELLOWSHIP PRESCHOOL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| Note Income from: Donations and legacies 2 Total income Expenditure on: Charitable activities 3 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 155,292 |
Total funds 2022 £ 155,292 |
Total funds 2021 £ 138,865 |
|---|---|---|---|
| 155,292 | 155,292 |
138,865 |
|
152,331 |
152,331 |
132,379 |
|
| 152,331 | 152,331 |
132,379 |
|
2,961 |
2,961 |
6,486 |
|
46,981 2,961 |
46,981 2,961 |
40,495 6,486 |
|
| 49,942 | 49,942 |
46,981 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 to 14 form part of these financial statements.
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PARKWOOD CHRISTIAN FELLOWSHIP PRESCHOOL
BALANCE SHEET AS AT 31 DECEMBER 2022
| Note Fixed assets Current assets Cash at bank and in hand Creditors: amounts falling due within one year 6 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 8 Unrestricted funds 8 Total funds |
50,442 | 2022 £ - 47,481 47,481 (500) 49,942 49,942 49,942 49,942 - 49,942 49,942 |
2021 £ |
|---|---|---|---|
| - 46,981 |
|||
| 50,442 (500) |
|||
| 46,981 | |||
| 46,981 | |||
| 46,981 | |||
- 46,981 |
|||
| 46,981 |
The financial statements were approved and authorised for issue by the Trustees on 30 April 2023 and signed on their behalf by:
Betty Abraham
The notes on pages 8 to 14 form part of these financial statements.
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PARKWOOD CHRISTIAN FELLOWSHIP PRESCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The 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 the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Parkwood Christian Fellowship Preschool 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.
1.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
1.4 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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PARKWOOD CHRISTIAN FELLOWSHIP PRESCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. Accounting policies (continued)
1.5 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
1.6 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
1.7 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
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PARKWOOD CHRISTIAN FELLOWSHIP PRESCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
2. Income from donations and legacies
| 2. Income from donations and legacies |
||||
|---|---|---|---|---|
| Unrestricted funds |
Total | Total 2021 £ 21,104 114,872 2,889 138,865 |
||
| General | 2022 | |||
| £ | £ | |||
| Fees | 19,925 | 19,925 |
||
| Funding (3+4 year) | 134,053 | 134,053 |
||
| Other Income | 1,314 | 1,314 |
||
| 155,292 | 155,292 |
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PARKWOOD CHRISTIAN FELLOWSHIP PRESCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
3. Expenditure on charitable activities
| 3. Expenditure on charitable activities | ||||
|---|---|---|---|---|
Unrestricted funds |
Total | Total | ||
| General | 2022 | 2021 | ||
| £ | £ | £ | ||
| Wages and salaries | 122,442 | 122,442 | 105,989 |
|
| Early year learning resources | 1,415 | 1,415 | 672 |
|
| Sundry expenses | 7,343 | 7,343 | 1,208 |
|
| Snacks and Hospitality | 0 | 0 | 507 |
|
| Printing, Postage and, Stationery | 721 | 721 | 5 |
|
| Training | 400 | 400 | 60 |
|
| Supplies | 901 | 901 | 805 |
|
| Staff welfare | 0 | 0 | 13 |
|
| Equipment | 2,872 | 2,872 | 3,303 |
|
| Telephone | 766 | 766 | 721 |
|
| Fundraising and donations | 0 | 0 | 55 |
|
| Repairs and renewals | 0 | 0 | 3,128 |
|
| Computer software and maintenance | 557 | 557 | 1,013 |
|
costs |
||||
| Independent examiner's fee | 500 | 500 | 500 |
|
| Rent | 14,414 | 14,414 | 14,400 |
|
| 152,331 | 152,331 | 132,379 |
4. Independent examiner's remuneration
| Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts |
2022 £ 500 |
2021 £ 500 |
|---|---|---|
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PARKWOOD CHRISTIAN FELLOWSHIP PRESCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
5. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL-)
During the year ended 31 December 2022, no Trustee expenses have been incurred (2021 - £NIL) .
6. Creditors: Amounts falling due within one year
| Accruals and deferred income | 2022 £ 500 |
2021 £ 500 |
|---|---|---|
7. Financial instruments
| Financial assets Financial assets measured at fair value through income and expenditure |
2022 £ 50,442 |
2021 £ 47,481 |
|---|---|---|
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PARKWOOD CHRISTIAN FELLOWSHIP PRESCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
8. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds |
Balance at 1 January 2022 £ 46,981 |
Income £ 155,292 |
Expenditure £ (152,331) |
Balance at 31 December 2022 £ 49,942 |
|---|---|---|---|---|
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PARKWOOD CHRISTIAN FELLOWSHIP PRESCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
8. Statement of funds (continued) Statement of funds - prior year
| Unrestricted funds General Funds |
Balance at 1 January 2021 £ 40,495 |
Income £ 138,865 |
Expenditure £ (132,379) |
Balance at 31 December 2021 £ 46,981 |
|---|---|---|---|---|
9. Summary of funds
Summary of funds - current year
| General funds Summary of funds - prior year General funds |
Balance at 1 January 2022 £ 46,981 |
Income £ 155,292 |
Expenditure £ (152,331) |
Balance at 31 December 2022 £ 49,942 |
|---|---|---|---|---|
Balance at 1 January 2021 £ 40,495 |
Income £ 138,865 |
Expenditure £ (132,379) |
Balance at 31 December 2021 £ 46,981 |
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