## **Wye Under Fives Pre-School**
**Trustees’ Annual Report And Financial Statements**
**For the year ended 31[st] August 2021**
**Registered Charity Number: 1185104**
**Registered Address: Small Village Hall Bridge Street Wye, Ashford Kent TN25 5EA**
## **Names of the charity trustees who manage the charity:-**
|**Name**|**Office Held(if any)**|**Dates acted if not for the whole**
**period**|
|---|---|---|
|Laura Mockford|Chair to 15/09/20|appointed 30/08/19,|
|||resigned 15/09/20|
|||re-appointed 22/04/21|
|Jane Read||appointed 30/08/19|
|||resigned 15/09/20|
|Lydia Capon|Secretary|appointed 30/08/19|
|Phil Chantler||appointed 01/07/20|
|||resigned 09/02/21|
|Amanda Butler||appointed 01/07/20|
|Jamie MacLean|Chair from 15/09/20|appointed 01/07/20|
|Stephanie Harrison||Appointed 24/06/21|
|**Senior Staff :-**|||
|**Name**|**Position Held**|**Dates acted if not for the whole**
**period**|
|Stephanie Harrison|Manager||
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## **Description of the charity’s trust:-**
## **Governing document**
Early Years Alliance Model CIO Constitution for Childcare Providers 2013
## **How the charity is constituted**
The charity is constituted as a Charitable Incorporated Organisation, registered in England and Wales. The date of registration by the Charities Commission was 30[th] August 2019.
## **Principal charitable activity**
The charity was registered with Ofsted from the 1[st] July 2020 to operate a term time only pre-school and weekly parent and toddler group in the village of Wye, near Ashford, Kent. This is the principal activity of the charity.
## **Trustee selection methods**
Trustees are appointed at the Annual General Meetings, although members at any time can decide to appoint a new charity trustee. All trustees must have Enhanced DBS checks and EY2 approval from Ofsted. The constitution contains provisions requiring the retirement and re-appointment of trustees by rotation.
## **Summary of objectives set out in its governing document**
The charity works for the public benefit having as its object the development and education of children and young people in particular by:
- 1) promoting their care and safety;
- 2) promoting their education and promoting parental involvement;
- 3) promoting their health and wellbeing;
- 4) providing services to support them and their families and carers;
- 5) providing services to individuals holding membership of the CIO; and
- 6) furthering the aims of the Early Years Alliance
## **Public benefit**
The trustees have, in accordance with section 17 of the Charities Act 2011, considered and have had due regard to the public benefit guidance published by the Charities Commission.
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## **Reserves**
It is the policy of the charity to maintain reserves at a level which give sufficient funds to:
1. provide adequate funding for staff, allow for changes to staffing levels, staff wage increases, staff training or cover for staff as required;
2. allow for cash flow timing differences;
3. fund annual events;
4. fund any replacement of old equipment;
5. implement any new EYFS initiatives that may require additional investment;
6. cover against the unlikely closure of the pre-school with regards to any staff redundancy payments and liabilities;
## **Additional governance information**
- All trustees give their time voluntarily and receive no remuneration or other benefits.
- Wye Under Fives holds regular committee meetings.
- Wye Under Fives maintains strong links with the local primary school, enabling the smooth transition from pre-school to primary school for families.
- Wye Under Fives is registered with Ofsted and partakes in Ofsted’s pre-school inspection programme and complies with the Early Years Foundation Stage
- Wye Under Fives is a member of the Early Years Alliance, membership no 249176
- DBS checks are carried out prior to commencement of employment or trusteeship as per our child protection policy
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## **Statement of trustee responsibilities in relation to the financial statements**
Charity Law requires the Committee to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the charity and of its financial activities for the period. In preparing those financial statements the committee is required to:
- a) select suitable accounting policies and then apply them consistently;
- b) make judgements and estimates that are reasonable and prudent;
- c) state whether the policies adopted are in accordance with the Charities SORP, the Regulations made in the Charities Act and with applicable accounting standards, subject to material departures disclosed and explained in the financial statements;
- d) prepare the financial statements on a going concern basis until it is inappropriate to assume that the charity will continue to operate
The Committee is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.
Page 5
## **Independent Examiner’s Report To the Trustees of Wye Under Fives CIO Registered Charity No. 1185104 On accounts for the year ended 31 August 2021**
## **Responsibilities and basis of report**
I report to the trustees on my examination of the accounts of the above charity for the year ended 31 / 08 / 2021.
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’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 Act.
.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
- accounting records were not kept in accordance with section 130 of the Act or
- the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed: Date:
Name and Address:
Relevant professional qualification(s) or body (if any):
Page 6
## **Achievements of the Charity during the year ending 31[st] August 2021**
When Wye Under Fives CIO took over the day to day running of the pre-school under the new Ofsted registration, in July 2020, the pre-school was operating at a reduced capacity in accordance with guidelines relating to the Covid-19 pandemic. However normal operations were able to resume in September 2020 when Wye Under Fives CIO were able to welcome returning children and new starters for the start of the new term and the first full year of operation for the charity.
During the year the staff and committee have worked together to ensure extra measures were in place to help prevent the spread of Covid-19 and subsequently this has minimised any impact upon the operations of the setting which has remained open at its usual capacity for the full school year.
Currently the Parent Baby & Toddler Group is closed due to Covid-19 restrictions. The group was popular before closure and will be opening again on 3[rd] November 2021, with a booking system to help us manage numbers attending.
It was agreed by the charity that in August 2021 our garden would be upgraded to give a larger area for the children to run and play in. This was achieved by removing flower beds and an unused garden shed and the area being covered with high grade artificial grass. The cost of this grass was £5,880 as was partially funded using donations from the Co-op, with the rest being spent from surplus funds and a small amount of fundraising money. The children have been able to use this area from September 2021. Further improvements to the garden will continue into the new financial year, with funding being received for an intervention shed and new planters. In addition, funding has been received to purchase outdoor activity boards that will be permanently attached to the fence line, giving the children more play and learning opportunities.
This year the children attending Wye Under Fives have had a very busy year with lots of valuable learning opportunities. Outdoor play has included their own pretend bonfire party and a garage to check over and service the ride on toys. In the setting, role play areas have included a veterinary surgery and a doctors’ clinic, Wye village shop and even a garden centre. Our team of practitioners continue to differentiate the play opportunities to ensure the learning is age and stage appropriate for every child. In particular, children with SEND are supported with a whole team approach which focuses on the voice of the child and their parents or carers. For every child in our setting, our aim continues to be for the child to achieve their very best outcomes and to ensure a supported transition onwards to primary school.
The committee appreciates the continued hard work by the staff and the support shown by the local families attending the setting and the wider community of Wye during the first full year of operation. It is with everyone working together that the setting has been able to remain open to provide childcare services for this year. With this in mind the charity looks forward to many more years of working together to support the local families of Wye and the surrounding area.
Page 7
## **Finance Report for year ending 31[st] August 2021**
## **Year End Financial Position**
Wye Under Fives has ended the year with a surplus of £18,135. It should be noted that this includes Autumn Term funding of £12,461 relating to September to December income for 2021. Without this additional income the full year operating position would have been £5,674.
During the year the, now dormant, Wye Under Fives Unincorporated Association Charity was dissolved and removed from the charity commission register. Assets of £57,126 were transferred from the Association to Wye Under Fives CIO. Cash balances at year end were £74,700 in our current account and £125 in petty cash. The trustees consider the financial position of the charity to be satisfactory.
## **Fundraising**
During the year the setting raised funds of £592. Using all my own work; with prints at Christmas raising £218, which was all spent on Christmas party games and presents for the children; and leavers tea towels at year end raising £99 which was again all spent on the children for leavers gifts and items for the leavers party. Commission was also received on the school photos of £238, this income was spent as part of our garden upgrade project. All fundraising received during the year was spent during the year.
## **Donations**
Donations of £2,984 were received during the year as follows; Co-op £1,351; Waitrose £333; Redhill Trust £1,300. The donations from Waitrose and Redhill trust are restricted funds.
The co-op money of £1,351, plus an unspent amount of £836 previously received from the co-op in a prior year by the Wye Under Fives Unincorporated Association, was all spent during the year upgrading our garden to have a larger area of artificial grass. The total cost of this project was £5,880 of which £3,165 was funded by Wye Under Fives £528 from fundraising.
The amount received from Waitrose of £333 remains unspent at the end of the year and has been donated to purchase some new planters and plants for our garden.
The donation from the Redhill Trust of £1,300 is also unspent at year end and has been donated with regards to purchasing a new shed for our garden which can be used as an intervention space for the children. Where one to one activities can take place or the children can use it as a quite space away from other children if needed. Subsequently to year end an order for a shed has been placed at a cost of £1,499.
## **Coronavirus Job Retention Scheme**
Income of £3,000 was received in the year relating to staff being placed on the Coronavirus job retention scheme during July and August 2021. The income was delayed from the prior year, due to the staff going through TUPE at the beginning of July 2021 and further checks being undertaken by HMRC before payment was made. No staff have been placed on the scheme since August 2021.
Page 8
## **Receipts from Fee and funding income**
Fee income was received in the year of £33,795, all invoices were paid at year end and zero debt was carried forward into the new financial year.
Income of £108,471 was received from KCC as part of the government provider funding scheme for free childcare for families.
## **Detail of the accounts – Payments**
The main costs for Wye Under Fives are staff wages (75%); rent of the halls and storage (10%) and equipment spend, including the garden, (8%). These 3 items total 93% of all payments.
Page 9
## **Wye Under Fives Receipts and Payments Account Year ending 31[st] August 2021**
||**Receipts**
Fees
KCC Funding
Parent & Toddler Group
Donations
Fundraising and Parties
Grants
Coronavirus Job Retention
scheme
Miscellaneous
**Subtotal**
**Payments**
Wages
Staff Costs
Training Courses
Rent
Insurance
Maintenance
Equipment
Hygine Services
Food / Drink / Cleaning
Printing
Postage
Stationery & Books
Fundraising & Parties
Telephone & Internet
Garden Expenses
Annual
Licences/Subscriptions
Bank Charges
Professional Fees
Miscellaneous
**Subtotal**
**Surplus / - Deficit**
Opening Bank Balance
Assets transferred from Wye
Under Fives Association
**Closing Bank Balance**|**Total**
**Unrestricted Restricted**
**Year End**
**Funds**
**Funds**
**31/08/2021**
**£**
**£**
**£**
33,795
-
33,795
108,471
-
108,471
-
-
-
1,351
-
1,351
1,842
-
1,842
-
1,633
1,633
3,000
-
3,000
317
-
317
**148,776**
**1,633**
**150,409**
99,769
-
99,769
592
-
592
1,804
-
1,804
12,673
-
12,673
1,087
-
1,087
7
-
7
4,522
-
4,522
278
-
278
1,048
-
1,048
583
-
583
26
-
26
494
-
494
1,230
-
1,230
780
-
780
6,096
-
6,096
1,225
-
1,225
-
-
-
60
-
60
-
-
-
**132,274**
**-**
**132,274**
**16,502**
**1,633**
**18,135**
3,935
3,935
57,126
57,126
**77,563**
**1,633**
**79,196 **|**Total**
**Year End**
**31/08/2020**
**£**
-
-
-
-
330
-
-
-|
|---|---|---|---|
||||**330**
15,622
81
-
105
-
-
306
-
32
-
5
58
187
143
-
-
-
-
-|
||||**16,539**|
||||**-16,209**
-
20,144|
||||**3,935**|
Page 10
## **Wye Under Fives Statement of Assets and Liabilities As at 31[st] August 2021**
||**Assets**
**Monetary Assets**
Bank current account
Loan to Wye Village Hall
Petty Cash
**Total **
**Liabilities**
Peoples Pension - Contribution for
August
HMRC – PAYE & NI for August
New World Netcom Ltd
Kent Space
Early Years Fundamentals Ltd
Mavis Carpet cleaning
IONOS
Kent County Supplies
**Total **|**As at**
**31/08/2021**
**£**
74,700
4,371
125
**79,196 **
**As at**
**31/08/2021**
**£**
337
665
49
58
40
90
97
-
**1,336 **|**As at**
**31/08/2020**
**£**
3,796
-
139
**3,935 **
**As at**
**31/08/2020**
**£**
285
258
49
-
-
48
**640 **|
|---|---|---|---|
|||||
|||||
|||||
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## **Wye Under Fives Notes to the financial statements for the year ending 31[st] August 2021**
## **1. Accounting Policies**
## **Basis of preparation**
The trustees have taken advantage of section 144(2) of the Charities Act 2011 and have prepared the accounts on a receipts and payments basis
## **Accounting convention**
The financial statements have been prepared under the historical cost convention.
## **Taxation**
The charity is exempt from tax on its charitable activities
## **Going Concern**
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of any assets held by the charity.
## **Fund Accounting**
Unrestricted income funds are general funds that are available for use at the trustees’ discretion in furtherance of the objective of the charity.
Restricted funds are those granted or donated for use in a particular area for specific purposes, the use of which is restricted to that area or purpose.
## **2. Trustees’ remuneration, benefits and expenses**
There were no trustees’, nor any persons connected with them, remuneration or other benefits paid for the year ended 31[st] August 2021.
## **3. Pension scheme**
The charity operations a defined contribution pension scheme with the Peoples Pension. The contributions payable by the charity to the scheme amounted to £1,813 for the year.
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## **Wye Under Fives Approval of annual report and financial statements for year ending 31[st] August 2021**
The trustees annual report and financial statements were approved by the trustees on the 8[th] February 2022
Signed for and on behalf of the trustees:-
Date
Print Name
Position
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