## **Wye Under Fives Pre-School**
**Trustees’ Annual Report And Financial Statements**
**For the year ended 31[st] August 2024**
## **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 from 09/05/22||
|Jane Read||Resigned 4/11/23|
|Cherise Glover|Secretary from||
||01/08/22||
|Penelope Wilcox|||
|**Senior Staff :-**|||
|**Name**|**Position Held**|**Dates acted if not for the whole**
**period**|
|Melissa Graham|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.
Page 3
## **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.
- Wye Under Fives follows safer recruitment processes, DBS checks are carried out prior to commencement of employment or trusteeship as per our child protection policy
Page 4
## **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 2024**
## **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 / 2024.
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
## **Events and Achievements of the Charity during the year ended 31[st] August 2024**
The Charity has now been in operation for four years with the term time only preschool and parent and toddler group remaining popular in the local area of Wye and Ashford.
The trustee committee are pleased to welcome Mel Graham as the new pre-school manager. Mel joined Wye Under Fives at the end of August as acting manager and accepted the position of pre-school manager in September 23. Towards the end of the year a new deputy manager was also recruited, and the new management team are looking forward to making further developments to the pre-school in the new year.
During this year the charity have further invested in key resources in the setting to support physical development. This includes a new trampoline and climbing tunnel and a Tubie toy and tickle tunnel for our SEND children. We also increased our resources for 2 year old’s in readiness for the new government funding.
The chalet, which was purchased last year, has been fitted out with toys, carpet and a ramp for accessibility to enable it to be used by the pre-school children. The charity have also partnered with the Co-op to obtain funding so the chalet can be insulated and the interior cladded to allow for all year round use. This work will be done in time for the new school year.
The new government funding introduced in April, now means that working parents of 2 year olds are now entitled to 15 hours of free early education. This has seen increased demand for childcare in the sector overall, and this has been reflected at Wye Under Fives with additional demand in the year and with a strong waiting list for places next year.
The charity continues to operate the parent toddler and baby group which is continually well supported by families and childminders from the local and further community.
The trustee committee would like to thank the staff and volunteers for their continued hard work and dedication and would also like to recognise the support shown by the local community during the year. The committee wishes the new management team success in the new year, as the charity look forward to supporting the local families of Wye and the surrounding area for another year.
Page 7
## **Finance Report for the year ended 31[st] August 2024**
## **Year End Financial Position**
Wye Under Fives has ended the year with a surplus of £20,143, this includes grants received in the year of £8,234 as follows:
- Ukrainian funding £6,000;
- Coop first payment £1,067;
- Training grant relating to the previous manager £1,167.
Of the grants only the Co-op is restricting funding relating to insulating and cladding the chalet. This remains unspent at year end, but with the work on the chalet booked in to take place in September 24. The training grant was used to book training for our new deputy and first aid training for 5 members of staff.
Cash balances at year end were £57,855 in the current account, plus £30,000 held in an interest earning account and £138 in petty cash.
The trustees consider the financial position of the charity to be satisfactory and will further invest the surplus this year into the continued improvement of the setting. This may include renewing resources, staff training, and it will give the setting scope to be able to deploy additional staff where required for SEND children.
## **Fundraising and donations**
During the year the setting raised funds of £716, net of expenses as follows:
- Donations of £3;
- Wreath making workshop £600;
- Cake and dough sales £113;
Fundraising and donations received during the year were spent on books and gifts for the children, and on fun week. The charity would like to thank parents and supporters of Wye Under Fives for their contribution towards these additional items for the setting and the children.
## **Receipts from Fee and funding income**
During the year fee income from parents of £30,337 was received and income of £118,103 was received from Kent County Council as part of the government provider funding scheme for free early education for families.
These free early education schemes include the universal 15 free hours, the 30 hours extended entitlement for working parents for three and four year olds’ and the 15 hours working parent entitlement for two year olds’. and the Free for 2 Scheme for parents of two years olds in receipt of certain benefits. The grant funding from Kent County Council makes up 79% of pre-school fee income.
The parent and toddler group fee income received in the year was £2,845.
Page 8
## **Payments**
The main expenses for Wye Under Fives are:
- Staff salaries, and staff costs £112,911 (79% of expenses);
- rent of the halls and storage £14,541 (10% of expenses);
- equipment spend, including the garden, £6,004 (4% of expenses) of which includes key items as follows:
- flooring for the chalet £324
- Tubies Toy £180
- Ramp for chalet £292
- Trampoline £156
- Giant Tickle Tunnel £168
- Sensory bubble mirror £154
- Garden storage £300
- Half tunnel climbing frame £548
- Balance Board & duel board £278
- Emotion cushions £132
- Low floor table £127
- food/drink and cleaning £1,924 (1% of expenses)
These 3 items total 93% of all payments made by the charity during the year.
Page 9
## **Wye Under Fives Receipts and Payments Account Year ending 31[st] August 2024**
||**Receipts**
Fees
KCC Funding
Parent & Toddler Group
Donations
Fundraising and Parties
Grants
Bank Interest
Miscellaneous
**Subtotal**
**Payments**
Wages
Staff Costs
Training Courses
Rent
Insurance
Buildings Maintenance
Garden Expenses
Equipment
Computer Equipment &
Services
3rdParty Entertainment
Hygine Services
Food / Drink / Cleaning
Printing
Postage
Stationery & Books
Fundraising & Parties
Telephone & Internet
Annual
Licences/Subscriptions
Bank Charges
Professional Fees
Travel & Subsistance
**Subtotal**
**Surplus / - Deficit**
Opening Bank Balance
**Closing Bank Balance**|**Total**
**Unrestricted Restricted**
**Year End**
**Funds**
**Funds**
**31/08/2024**
**£**
**£**
**£**
30,337
-
30,337
118,103
-
118,103
2,845
-
2,845
3
-
3
1,766
-
1,766
7,167
1,067
8,234
485
-
485
135
-
135
**160,841**
**1,067**
**161,908**
110,075
-
110,075
1,458
-
1,458
1,378
-
1,378
14,541
-
14,541
1,194
-
1,194
200
-
200
986
-
986
5,018
-
5,018
96
96
962
-
962
309
-
309
1,924
-
1,924
267
-
267
-
-
-
583
-
583
1053
-
1053
748
-
748
326
-
326
160
-
160
487
-
487
-
-
-
**141,765**
**-**
**141,765**
**19,076**
**1,067**
**20,143**
70,711
-
70,711
**89,787**
**1,067**
**90,854**|
|---|---|---|
||||
||||
||||
||||
Page 10
||**Receipts**
Fees
KCC Funding
Parent & Toddler Group
Donations
Fundraising and Parties
Grants
Bank Interest
Miscellaneous
**Subtotal**
**Payments**
Wages
Staff Costs
Training Courses
Rent
Insurance
Buildings Maintenance
Garden Expenses
Equipment
3rdParty Entertainment
Hygine Services
Food / Drink / Cleaning
Printing
Postage
Stationery & Books
Fundraising & Parties
Telephone & Internet
Annual
Licences/Subscriptions
Bank Charges
Professional Fees
Travel & Subsistance
**Subtotal**
**Surplus / - Deficit**
Opening Bank Balance
**Closing Bank Balance**|**Total**
**Unrestricted Restricted**
**Year End**
**Funds**
**Funds**
**31/08/2023**
**£**
**£**
**£**
26,613
-
26,613
91,728
-
91,728
2,825
-
2,825
140
-
140
2,536
-
2,536
-
-
-
533
-
533
141
-
141
**124,516**
**-**
**124,516**
92,660
-
92,660
2,282
-
2,282
1,252
-
1,252
13,769
-
13,769
1,138
-
1,138
250
-
250
4,202
-
4,202
3,582
-
3,582
575
-
575
286
-
286
1,483
-
1,483
540
-
540
10
-
10
333
-
333
1,520
-
1,520
565
-
565
342
-
342
117
-
117
160
-
160
-
-
-
**125,066**
**-**
**125,066**
**-550**
**-**
**-550**
71,261
-
71,261
**70,711**
**-**
**70,711**|
|---|---|---|
||||
||||
||||
||||
Page 11
||**Assets**
**Monetary Assets**
Bank current account
Deposit account
Loan to Wye Village Hall
Petty Cash
**Total**|**As at**
**31/08/2024**
**£**
58,855
30,000
1,861
138
**90,854**|**As at**
**31/08/2023**
**£**
57,808
10,000
2,726
177
**70,711**|
|---|---|---|---|
|||||
||**Liabilities**
Peoples Pension - Contribution for
August
HMRC – PAYE & NI for August
Lady Joanna Thornhill (Endowed)
Primary School.
Kent Space
Lloyds Bank
**Total**|**As at**
**31/08/2024**
**£**
371
682
-
-
12
|**As at**
**31/08/2023**
**£**
232
605
438
67
11
**1,353**|
|---|---|---|---|
|||||
Page 12
**Wye Under Fives Notes to the financial statements for the year ended 31[st] August 2024**
## **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 2024.
## **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 £1,970 (prior year £1,673) for the year.
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# **Wye Under Fives Approval of annual report and financial statements for year ended 31[st] August 2024**
The trustees annual report and financial statements were approved by the trustees on the 18[th] March 2025
Signed for and on behalf of the trustees:-
Date
Print Name
Position
Page 14