L4venbam Preschool Annual Report and FiDan¢lal Ststements Year ended 31 August 2024 Charity number.. 1184176
LAVENHAM PRESCHOOL al Report and Flnaneial Statements for the year ended JI August 2024 Contellts Page: Reference and administrative details Report of the Trustees Independent Examin¢r's RetxTrrt Statement of Financial Aetivities Balane¢ Sheet 7-10 Notes fonning part of ihe Financiai Statements
LAVENHAM PRESCHOOL Annual Report Financlal Statrments for tbe year ended 31 August 2024 Refer¢nee and administrative detsiis Charity name Lavenharn Preschool Registered charlty Dumber 1184176 Business •ddres$ Church Street Lavenham Suffolk C0109QT Trustees R S Mawford- Chaim)an D Carse- Treasurer {resigTrcd on 31 August 2024) J M Jones S Knight K Humphreys A Hyde Parker {r¢5igned on 5 March 2024) H Upton (resigned on 10 S¢ptember 2023) L Willis (appointed ou 12 February 2024) E Hurd {appointed on 4 January 2024, resigTted on 15 April 2024) Pre-4¢bool Manager Elzbieta Zlotek Independent examiner Wendy Bowman AAT WB Accounting S¢rvic¢s, 18 Peek Close, Lavenham, Suffoll COIO 9FR Bankers Santand¢r UK plc Lloyds Bank plc
LAVENHAM PRESCHOOL Report of the tr115tees for the year ended 31 August 2024 Th¢ trustees for th¢ purposes of charity law, have pleasure in presenting their at]nual r¢port and the financia] st2lemenis of th¢ charity for th¢ y¢ar ended 31 AUgt 2024. Struetur4 Governance ind Management Governing Document Lavenham Pr¢scbool is a Charitable Incorp)rated Organisation {Foundation Model) which was gIStered on I July 2019 {gIstered number 1184176). On 19 December 2019 th¢ CIO obtained oFs-fED registration and took over the Preschool's activities and asscts. The Pres¢bool previously operated &$ an Unlncorpored charity (r¢gister¢d number 1048612) whi¢h was registcr¢d on 12 August 1995. Truste$-appoinlmenl, opganisqlion qndrecrmi1tsI The trusiees during the year ended 31 August 2024 are stat¢d on page l. Rlsk muuugemenl The truslees have reviewed the major risks to which the ¢harity is exp)sed and hve established systems and procedures to mitigate those risks. Objectives Dd activities Lavenham Preschool is an educational chartty whose obj¢ctive5 are lo enhanc¢ the devclopm¢nt and education of ehildren primarily under statutory school age by encouraging parents to understand and provide for the needs of their Childn through community groups and by.. a) offering appropriate play, education aDd car¢ facilities. family learning and extended hour5 groiips, togcther wilh the right of parentq to take responsibility forand to become involved in ihe aetivities of such group5, ensuring that sueh groups offer opportunities for all children whatever their rarx. culture, r¢liEion. means or ability. b) encouydging the study of the needs of such children and their famili¢s and promoting publi¢ interest in and r¢¢ognition of such n¢¢ds in the loc ar¢as' ¢) inigating and adhering to and furthering the atms and objects of the Pre-school Learning Alliance. The Pr¢school is op¢n five days aweek during ierm-time, offering breakfast ¢lub, morning and afternoon 5¢5sion& lunch club, an after-hours club and a]l-day care. From January 2024 we increased oiir opening hourq to 88m - Sp to mak¢ us more at1Jactive to working parents. Wc also operated a holiday club for 2 weeks in August 2024. We cat¢r for children from 2 years io sehool age, preparing them for entry into mainstream schooling. The Pres¢hool operdty from a purpose-built building, adjacent to Lavenham Villag¢ Hall, which was opened in September 2017. Performnee 4nd a¢hieveETrents The Preschool has managed to maintain a surplus for the year endcd 31 August 2024, and despite it being much lower than the previous year we consider this an achi¢vement in the current climlte. With the involvcment of both trustees and st&ff, we were also able lo continue wtth OUT fundraising efforts, including through th¢ aTmua] fireworks dÈsplay. held in conjunction with Lavenham Primary School. We were very pleased to receive a donation of £250 for our feWorkS event and claimed gift aid on this and the previo$ year donation too. The Preschool s¢¢ured funding. during the year ended 31 August 2024, frorn various benefaclors to improve and extend the Forest School area. At 31 August 2024. the extension and refurbishment work has Ixen COTnpleted, resulting in a larger ar¢a fomed with new fencing to secure the are& Income rec¢ived in the year for this project totalled £5,535. with cxpenditure to date of £4,427. We are still hoping to receive further funding in October 2024 and January 2025 and th¢ remaining balanc¢ will be spent Ott providing new equipment for the Forest School arva.
LAVENHAIIrf PRESCHOOL Report of the trustees for the ye4r ended 31 Augll$t 21124 (Condnued) Once again, major thanks for their exc¢llent work during the year must go to all our siaff, who continu¢ lo make Lavettham Preschool the exe¢llent chil(kare setiing that it is and continuously aim to improv¢ Erf)tb their t¢aching practices and the learning environment. Plans for the hture The coming year is likely to prove another challenging ¢)ne with the priority being to build up pupil numbers in ord¢r to ensure that our purpose-built building is fully utilised alld to ¢over incre8sing costs. It will also be uecessory to continue to tske advantage of the opportunities provid¢d by th¢ Government's ph25ed extension of free childcar¢, which began in April 2024 with the provision of15 hours per week of education aJtd Ca to ttYo- year childrcn of cligible parents. From September 2024. we are lowering the ag¢ from which we take children from 2 years to 20 monihs, in order to take advantage of the under 2 funding. The under 2's will be limited in numtrtt3 each terni in order to ensure we can a¢¢ommodate their needs. FitEaDeial Review The Statement of Financial A¢liviti¢g on page 5 sets outthe movement in funds forthe yearand the Balance Sheet on page 6 shows the charity's stste of affairs at the year end. The princi[ sources of incotnc ar¢ the Government Funding Grant for Early Y¢ar5 Education, from Suffolk County Council and fee5 charged for non-funded sessions. Whilst our fee income for the y¢ar en(kd 31 August 2024 has r¢mained consistent * £42,260 (2023: £41,246). our grant funding has increased to £102,530 (2023: £86,565). This ineffase is a result of th¢ incrcase Èn pupil numbers during the year iogeth¢r with the Government's phas¢d extension of funding available as mentioned aErf)ve. The increase tn income has been offset by th¢ increase in our costs, primarily our slaff c(Ists which in the year ended )1 August 2024 have risen to £117,133 (2023.. £82,017). This in¢rwe ts partly due to the quality and highly skilled 5tsff which w¢ have employ¢d and also due to the increase in rninitnum wage which has led to a proportionaie increase to all staff levels of pay. The majoTity of our staff hav¢ opted in to the NEST pension fund which has also increased our costs to £1,969 (2023.. £1,062}. The trnstees have considered the level of funds held and the expected incom¢ and expenditure for the next 12 months. Bgs¢d on this assessment, the trustees believe that the Preschool will continue as a going Loncem during this period. This report was Approved by the tnr5teos o aDd siined on their behalf hy: Chairnian
LAVENIIAM PRESCHOOL Indepettdent Ex#mlner's Report Éo the trustses of Lavenham Preschool I report on ihe accounts ofLavenham Preschool for the year ended 31 August 2024, which are s¢t out on pages 5 to 10. Re$pe¢tive responslbilitles of trustees #nd examSller The trusle¢s ar¢ responsible For ihe preparation of the accounts. The trustees ¢onsider that an audit is not quired for this year und¢r se¢iion 144(2) of ihe Charities Act 2011 lthe 2011 Act) and that an independent cxamination is ne¢de Having satisfied mys¢lf that the charity is not $ubj¢ct to audit under company law and is eligible for independent ex8mination, it is my responsibility to- examine th¢ accounts under se¢tion 145 of the 2011 Act. to follow the procedures laid down in the general Direction givcn by the Charity Commission under se¢tion 145(5) (b) of the 2011 Act. and to state whether p8rticular mattet¥ hav¢ come to my dttention. B&5is of indepeodent examin¢r's report My examination carried out in accordance with the General Directions given by the Charity Commissionets. An examination includes a Teview of the accounting records kept by the charity a comparison of the accounts pres¢nted with those re¢on]s. It s0 Includes consideration of any unusu81 items or disc105ur¢s in the a¢¢ounts, attd seeking explanations from you as truste¢5 concernit]g any sllch matters. The procedures un(f¢rtaken do not pmvide all the evidence that would be requir¢d in an audi( and consequently no opinioll is given to whdher the accounts present a 'true and fair view, and the report is limited to those matt¢rs set out in the statement below. Independent eAominer's stateMet In connection with our examinatioo no mait¢r has come to my attention". which gives me reasonable Cause to lIeVe that in any material respect the requiremcuts.. to ke¢p accounting records in accordance with section 386 of the CompanÈes Act 2006: and to prepare accounts which accord with the accouttting requirements of the scction 396 of the Companies Act 2006 and with the methods and principles ot Stalcmenl of Recommended Practi¢e: A¢counting and Reporting by Charities hav¢ not been met. or 2) to which in my opinion. attet]tion should be drawn in order toenablc aproFer undeJEtanding ofthe accounts to be reached. WB Accowiting Services Lavenham. Suffolk COI O
LAVENHAM PRESCHOOL Statement of Financial Attivities (incorporating Income and ExpeDditure Acco•t) for tbe year ended 31 Augllst 2024 Nots UDTestricted Restricted Fund$ Funds 2024 To¢al 2023 Total Income from: Donations 590 5,911 6.501 250 Charitable activities.. Grants Fees Other incoTne 102,530 42360 696 102WO 42200 696 86,565 41246 Fundraa5ing events 3,043 3,554 Envestmenl income Bank interest receivable 334 334 131 Total income 149.453 5Jll 155J64 131,746 Expenditure ott.. Raising fjjnds 376 376 425 Charitable activities 146,689 4,427 151,116 108229 Total eipeTrdithre 146,689 JS1,492 108,654 Net illcome 1764 1.108 3,872 23.092 Fund balances at I September 2(Y23 53,737 53,737 30,645 Fund balances at 31 August 2024 56,501 1,108 57,609 53,737 The statement of finan¢ia] activities ineludes a]1 gains and losses tE¢ognised in the year. All incom¢ and expenditure derives from continuing activities. The comparative figur¢s for 2023 a]1 relate io umrstricted ftmds. ex¢¢pt as shown in noie 2.
LAVENHAM PRESCHOOL B&lanc¢ sbttt at 31 August 2024 Totsl 2024 Total 2023 Note Current Assets Debtors and prepaym¢nts Cash at bank & in hand 1,068 -$9,569 7,804 47,590 60,637 55J94 Creditors: amounts falltng due Ivitbl one year (3,028) (1,657) Net current ¥ssets 57,609 53,737 Net assets $7,609 53,737 Funds Unrestricted llds R¢strtcted funds 53,737 1,108 57,609 53,737 The notes on pages 7 to 10 fonn part of these fin8n¢ial statements. Tb¢ financi41 stalements were approved by the trustees OD ,h42 and signed on tbelr beb*lf by TnJst¢e
LAVENHAM PRESCHOOL Notes forming part of the financial ststements for th¢ year ellded 31 August 2024 Aeeounting polici4$ AcLounling convemto These financial statements have be¢n prepatEd in accordancewith Accounting and Reporting by Charities". Stat¢ment of Recommended Pr¢tiCe applicabl¢ to charities prepartng their ac¢ounts in accordan¢e with the Financial R¢portiT]g Standard applicable in the IJK and Rcpublic of Ireland (FRS 102) (effcctive I January 2015)- (Charities SORP (FRS 102)), the Trinancial Rerting Standard applicable in the UK and Republic of Ireland (FRS 102). The accounts (finaacial statem¢nts) have hten prepared under the historical ¢ost convention with items recognised at cost or transaction value unless oth¢nvise ststed Èn the relevant note(s) to these accounts. The charity constitutes a public benefit entity as defined by FRS 102. Going concepn The COUnts have b¢¢n prepared on a going concern basis which the trustees b¢lieve is appropriate given Ihe level of funds held and th¢ income and expenditure forecast for th¢ next 12 months from the date of approving these finanLial statem¢nts. Incoming resourees All incoming resources are includ¢d in the SOFA when the ¢harity is legally entitl¢d to the incom¢ and the amount Can ix quantified with reasonable accuracy. Donated services are included at the value lo the charity where this can b¢ quantifi¢d and & third paty is bearing rhe ¢0st. No ajnounts are included in th¢ financiat statements for services donated by volunteers. ExpendElure All expenditure is accounted for on an a¢¢ruals b&sis, and has been classified under the headings that aggregate a]1 costs r¢lated to the category. Wh¢r¢ costs cannot be directly attributed to particular headings they have been allocatcd to a¢tivities on a basis consistent with use of r¢sources. Fundraising cost5 are those incurred in seeking voluntary contributions and holding fundraising everAts. Support costs ar¢ those costs incurred directly in support of expenditure on the objects of tht charity. Govcmance costs are those incurred in connection with ¢ompliance with Constitutional and statutory reqtsiremellts. Tungib/efLYed asseis Individual fixed assets costing £1,000 or more are capitaiised at cosL including any incidental ¢osts of acquisition. Depreciation is provided on a]1 tangible fixed assets, other than freehold land, so as lo write off the cost, less estimated 5[dUal value, ov¢r Ihcir exp¢ct¢d useful lives. Operating leases Rentals under OFtrdting I¢5 are charg¢d to th¢ illcome and eXnditUre accowit as ineurred.
LAVENHAM PRESCHOOL Notss to the financial s¢aternents for the year ended 31 August 2024 (ContyiAued) FundAcLouptting unSleted funds comprise accumulated surplus¢s and deficits on the gencrai fund and designated funds. They are availabl¢ for use at the discrction of the trustces in furtherance of the charitable company's objective5. Designated funds ar¢ those funds designated lor a particulor purFose or projects at ihe discrction of the trustees. Restrickd funds are funds which to be used in accordance with S¢IfiC restrictions imposed by dono or whi¢h have been raised by the chaTity for partÈcular purposes. The cost ot raising and administering su¢h funds are charged against the speeific fund. The aim and use of each restricted Fund is sct out in the notes to the finan¢ial statements. 2024 2023 Unrestricled.. Lavenham Gardening Club Smaller individual donations 250 340 Reslricled.. Individual donorre fiWolS dtsplay (including gift aid) East of England CoryOP- Forest School Proje¢l Lavenham Parish Council- Forest School Project Suffolk County Council- Forest School Project Eleanor & Charlotte Condy Trust Fund- Forest School Proj¢ct The B¢lst¢ad Ganzoui Charitable S¢ttlement- Forest School Project 376 835 1500 1,000 2110 2,0011 250 Tot41 donatAoRs 6JOI 250 Crnllts 2024 2023 Suffolk County Council - F2rly Education funding 102,530 86,505 Total grants 102J311 86,565
LAVENHAM PRESCHOOL Nole$ to the finanei41 statements for the year ended 31 August 2024 (Coniinued) Expenditure Charitable a¢tivitl¢s 2024 2023 Restricted.. Forest School Proje 4,427 Unreslplued.. Direct costs Staff costs (note 5) Rewurecs for children Support costs Premises Oth¢r sllprt costs, including governance ¢osts 117,133 3,786 82,017 4,612 &600 17,170 8,001 li,599 151,116 108,229 5 StatTco$ts 2024 2023 Wages and salaries Social security costs P¢nsion Cosis Siaff recruitment, trainÉng and uniforni costs Other staff costs 113,913 78,896 1,969 901 350 1,062 1,094 965 117,133 82,017 The key management pOnnel of the charity comprise th¢ tnjstees and th¢ Pttschool manager shown on page l. The trustee5 neither received nor waived any r¢mun¢ration during th¢ year (2023- £nil). The #Vee number of employees during the year, calculated on a head count basis was l 0 (2023'.10). No employee had emoluments in excess of £60,(Tr00 (2023-. nil). 6 Tkx*tlon The company is a registered ehartty and is not considered Itable to taxation on its income. Incom¢ tax deducted at 50ur¢e from income is recoverable from HMRC. 7 Debtors and prep¥ymeTrts D¢btors consists oltsade debtots (fee in¢ome owed at th¢ year end) and prepayments. A provision of £347 for bad and doubtful debts in respect of overdue f¢e inrome has been deducted.
LAVENHAM PRESCHOOL Notes to the finaneA#l statements for the ye4r ended 31 August 2024 (Conlinutd) nds Summary Balance at Fund movements Balance at I September Ineoming Resources Trnnsfer 31 August 2023 T&gources sed 2024 Restrieted funds v)ii 4,803 1,108 Unrestricted fund$ $3,737 149,453 146,6¥9 56301 53,737 155J64 151,492 57,609 10