Charity number: 1185961 Little Acorns Pre-School CIO Report of the Trustees and Unaudited Financial Statements For the year ended 31 March 2023 Little Acorns Pre-School CIO Contents Page For the year ended 31 March 2023 |Report of the Trustees|1 to 2| |---|---| |Independent Examiner's Report to the Trustees|3| |Statement of Financial Activities|4| |Statement of Financial Position|5| |Notes to the Financial Statements|6 to 9| |Detailed Statement of Financial Activities|10| Little Acorns Pre-School CIO Report of the Trustees ## For the year ended 31 March 2023 The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 March 2023. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** To enhance the development and education of children, primarily under statutory school age, by encouraging parents to understand and provide for the needs of their children through community groups. The main activity of the charity is the running of a Pre-School, namely Little Acorns Pre-School. The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. ## **ACHIEVEMENTS AND PERFORMANCE** ## **Significant activities** The charity has been established to enhance the development and education of children under statutory school age in the Ashford area. The Pre-School runs ten sessions throughout the week, during term time. These sessions are popular and are at full capacity for much of the time. The Trustees have continued and are continuing to concentrate on budgeting issues and ensuring that the charity receives value for money from its expenditure. It remains the Trustees' intention that the charity should allocate funds to the improvement of the garden area that is attached to the premises occupied by the Pre-School. This includes shading and education and play value of the area, and the charity is working with the various parties involved to enable this to take place. The majority of the funding received represents fees paid by Kent County Council and parents. ## **Achievements against objectives** The charity runs a successful Pre-School which operates at full capacity for much of the time. The Pre-School works within the Early Years Foundation Stage (EYFS) Framework which means that it is full inclusive of all children's needs, regardless of ethnicity, culture, religion or belief, home language, family background, Special Educational Needs (SEN), disability, gender or ability. Our aim is to give all children individualized learning, development and care, to enable them to make progress at their own pace, to fulfil their potential, and give them the best possible start in life. ## **FINANCIAL REVIEW** ## **Significant events** The charity commenced on 23rd October 2019 and was dormant until the 30th September 2022 when it took over the operations of Registered Charity 1056926 - Little Acorns Pre-School. This was a conscious restructure of existing operations into a new legal form and therefore the financial statements present the results of the charity as required per Charities SORP FRS102 Section 27. To present a true and fair view of the charity's financial position, the accounts are being including pre-commencement operations from 1 April 2022 to 30 September 2022, with comparatives to 31 March 2022. ## **Reserves** For the year ended 31 March 2023 the Charity generated incoming resources of £143,351, expended resources of £150,338, resulting in a deficit for the year of £6,987. This is compared to income of £140,451, expenses of £135,054, and a surplus of £5,397 for the previous year. The deficit has arisen because of planned spending from reserves on new equipment to enrich the lives of children attending the nursery, rising premises expenses and increasing staff costs. ## **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. 1 of 10 Little Acorns Pre-School CIO Report of the Trustees Continued For the year ended 31 March 2023 ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** Little Acorns Pre-School CIO is a registered charity, number 1185961, and is constituted under a trust deed. ## **Recruitment and appointment of trustees** The governing document states that there must be a minimum of five Trustees and a maximum of twelve. Trustees may be appointed at the Annual General Meeting, at which at least 10% of the members or five members, whichever is greater, must be present. These trustees may serve for up to ten consecutive years. Members who are paid employees of the Pre-School may also be elected to the committee subject to various conditions being satisfied, in particular that they are not paid for services to the Pre-School that form part of their duties as a Committee Member and Trustees of the Pre-School. Up to three further Trustees may be co-opted on to the Committee at any time, in addition to the maximum of twelve Trustees; these Trustees must retire at the next Annual General Meeting although they may seek reelection unless they have serves for more than 6 consecutive years. The Trustees then appoint amongst themselves, but excluding any paid employees of the Pre-School, three offices namely, a chairperson, a treasurer and a secretary. These individuals have responsibility for certain areas of the Charity's affairs. ## **REFERENCE AND ADMINISTRATIVE INFORMATION** **Name of Charity** Little Acorns Pre-School CIO **Charity registration number** 1185961 **Principal address** Kingsview Recreation Centre Field View, Kingsnorth Ashford Kent TN23 3NZ ## **Trustees** The trustees and officers serving during the year and since the year end were as follows: Charlotte Jones Nicholas Rayner (Resigned: 01 September 2022) Susan Alubaidi Emily Edmonds Donna White Angie Longson **Independent examiners** Swift Accountancy Swift Farm, Sandy Lane Ashford Kent TN26 1JN Approved by the Board of Trustees and signed on its behalf by 22 December 2023 ............................................................................. Charlotte Jones (Director) 2 of 10 ## Little Acorns Pre-School CIO ## Independent Examiners Report to the Trustees ## For the year ended 31 March 2023 I report to the trustees on my examination of the accounts of the charity for the year ended 31 March 2023. ## **Responsibilities and basis of report** As the charity trustees, 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 all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiners statement** 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: 1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. 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. 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. Adam Clegg FCCA BSc (Hons) - 2670702 Swift Accountancy Swift Farm, Sandy Lane Ashford Kent TN26 1JN 22 December 2023 3 of 10 ## Little Acorns Pre-School CIO Statement of Financial Activities For the year ended 31 March 2023 |**Notes**
**Income and endowments from:**
Charitable activities
Pre school
Other trading activites
Fund raising events
Investments
Bank interest receivable
**Total**
**Expenditure on:**
Charitable activities
Pre school
**Total**
**Net income/expenditure**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
142,147
771
433
**143,351**
(151,088)
**(151,088)**
**(7,737)**
90,072
**82,335**|**2022**
**£**
139,837
614
-| |---|---|---| |||**140,451**| |||(135,054)| |||**(135,054)**| |||**5,397**
84,675| |||**90,072**| 4 of 10 ## Little Acorns Pre-School CIO Statement of Financial Position As at 31 March 2023 ||**Notes**|**2023**|**2022**| |---|---|---|---| |||**£**|**£**| |**Current assets**|||| |Cash at bank and in hand||84,165|92,905| |||**84,165**|**92,905**| |**Creditors: amounts falling due within one year**|6|(1,830)|(2,833)| |**Net current assets**||**82,335**|**90,072**| |**Total assets less current liabilities**||**82,335**|**90,072**| |**Net assets**||**82,335**|**90,072**| |**The funds of the charity**|||| |Unrestricted income funds|7|82,335|90,072| |**Total funds**||**82,335**|**90,072**| The financial statements were approved and authorised for issue by the Board and signed on its behalf by: Charlotte Jones Trustee 22 December 2023 5 of 10 Little Acorns Pre-School CIO Notes to the Financial Statements For the year ended 31 March 2023 ## **1. Accounting Policies** ## **Basis of accounting** The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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), Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011. Little Acorns Pre-School CIO 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 note(s). ## **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. ## **Incoming resources** All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: ## **Resources expended** Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure: ## **Merger details** Little Acorns Pre-School CIO was registered on 23rd October 2015. Charitable status was also achieved on this date, with registered charity number 1185961. Little Acorns Pre-School (charity number 1056926), the unincorporated entity, was closed in due course as a result of the creation of the CIO. Under an asset transfer agreement, all the assets of Little Acorns Pre-School (unincorporated) were transferred to Little Acorns Pre-School CIO on 30 September 2022. To present a true and fair view of the charity's financial position, the effective date of transfer has been treated as 1 April 2022. Pre-commencement operations from 1 April 2022 to 30 September 2022 are included within these accounts, with comparatives to 31 March 2022. Little Acorns Pre-School CIO also agreed to discharge the liabilities of Little Acorns Pre-School as at 30th September 2022. The financial statements have been prepared upon Charities SORP FRS102 Section 27, subsection 12 - Accounting for charity reconstructions as mergers. The details below show the unincorporated charity's net assets at the effective date of transfer. The comparative figures shown in the SOFA for the prior year all relate to Little Acorns Pre-School (unincorporated) because the CIO was dormant during the year. The net assets of the unincorporated charity were transferred on 31st March 2022 as follows: Cash at bank and in hand £92,905 Creditors, accruals and deferred income (£2,833) Total net assets £90,072 6 of 10 ## Little Acorns Pre-School CIO Notes to the Financial Statements Continued For the year ended 31 March 2023 ## **2. Net income/(expenditure) for the year** This is stated after charging/(crediting): |This is stated after charging/(crediting):||| |---|---|---| ||**2023**|**2022**| ||**£**|**£**| |Accountancy fees|1,101|999| |Trustees' remuneration|24,750|14,040| |Staff pension contributions|4,444|3,190| ## **3. Staff costs and emoluments** Total staff costs for the year ended 31 March 2023 were: |Total staff costs for the year ended 31 March 2023 were:||| |---|---|---| ||**2023**|**2022**| ||**£**|**£**| |Salaries and wages|110,345|95,470| |Pension costs|4,444|3,190| ||**114,789**|**98,660**| ||**2023**|**2022**| |Employees|13|13| ||**13**|**13**| ## **4. Trustee remuneration and related party transactions** During the year E Edmondson received remuneration of £9,223 (2022: £6,355) for their position as administrator. During the year D White received remuneration of £15,527 (2022: £1,170) for their position as manager. During the previous year an ex-trustee received remuneration of £12,331 for their position as manager. These payments are permitted by the trust deed and are not on account of their trustee position. ## **5. Comparative for the Statement of Financial Activities** The comparative year values on the Statement of Financial Activites are for unrestricted funds. 7 of 10 ## Little Acorns Pre-School CIO Notes to the Financial Statements Continued ## For the year ended 31 March 2023 ## **6. Creditors: amounts falling due within one year** |Accruals and deferred income|**2023**
**£**
1,830
**1,830**|**2022**
**£**
2,833| |---|---|---| |||**2,833**| ## **7. Movement in funds** ## **Unrestricted Funds** |**Balance at**
**01/04/2022**
**£**
_General_
90,072
General
**90,072**
**Unrestricted Funds - Previous year**
**Balance at**
**01/04/2021**
**£**
_General_
84,675
General
**84,675**
**Purpose of unrestricted Funds**
General
The general fund contains all the activities of the pre-school.
**nalysis of net assets between funds**
**Unrestricted funds**
_General_
General|**Incoming**
**resources**
**£**
143,351
**143,351**
**Incoming**
**resources**
**£**
140,451
**140,451**||**Outgoing**
**resources**
**Balance at**
**31/03/2023**
**£**
**£**
(151,088)
82,335
**(151,088)**
**82,335**
**Outgoing**
**resources**
**Balance at**
**31/03/2022**
**£**
**£**
(135,054)
90,072
**(135,054)**
**90,072**
**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
82,335
82,335|**Balance at**
**31/03/2023**
**£**
82,335| |---|---|---|---|---| |||||**82,335**| |||||**Balance at**
**31/03/2022**
**£**
90,072| |||||**90,072**| |||||| ||||**82,335**
**82,335**|| ## **8. Analysis of net assets between funds** 8 of 10 Little Acorns Pre-School CIO Notes to the Financial Statements Continued For the year ended 31 March 2023 ## **Previous year** |**Unrestricted funds**
_General_
General|**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
90,072
90,072| |---|---| ||**90,072**
**90,072**| 9 of 10 ## Little Acorns Pre-School CIO Detailed Statement of Financial Activities ## For the year ended 31 March 2023 |**INCOME AND ENDOWMENT**
**Charitable activities**
Income from charitable activities
**Other trading activities**
Fund raising events
**Investments**
Bank interest receivable
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Staff costs - wages & salaries
Staff costs - pension contributions
Trustee - wages & salaries
Bank charges
Equipment purchases
Food purchases
Insurance
Other direct costs
Post and stationery
Premises expenses
Staff training
Sundry expenses
IT and computer costs
Professional fees
**SUPPORT COSTS**
**Governance costs**
Accountancy fees
**Total resources expended**
**Net Expenditure**|**£**
**2023**
142,147
**142,147**
771
**771**
433
**433**
**143,351**
(85,595)
(4,444)
(24,750)
(599)
(6,060)
(1,111)
(1,081)
(7,793)
(866)
(14,981)
(1,379)
(966)
-
(362)
**(149,987)**
(1,101)
**(1,101)**
**(151,088)**
**(7,737)**|**£**
**2022**
139,837| |---|---|---| |||**139,837**
614| |||**614**
-| |||**-**| |||**140,451**
(81,430)
(3,190)
(14,040)
(750)
(8,870)
(1,359)
(1,291)
(4,736)
(617)
(13,389)
(931)
(2,189)
(549)
(714)| |||**(134,055)**
(999)| |||**(999)**| |||**(135,054)**| |||**5,397**| 10 of 10 This page does not form part of the statutory financial statements