Chartty numb•r. 1186340 DUCKLINGS PRESCHOOL CREATON CIO Unaudll•d annual roport Year end•d 31 August 2024 DUCKUNGS PRESCHOOL CREATON CIO CONTENTS Page ROfornn￿ and adminlstrative detalls oflhe Cha ReF. Struduro* go￿rnan¢8, and nMnag•m•nt The Charity is a Chwitable Incryp￿ted Organisatlon. s*)vemed by 8 TFUSt Deed dated 14 November 2019. M•thod of appointm•nt or •l•ction of The setting Is regulated by Ofsted and governed by 8 board of truste88. The trustgos overs90 thè work of the setténg manager and offlcer manager. who are responslble for the day lo d8y runnlng of the setting. Trustees are appointed by r8soluUon at a propety ￿n¥ened meellng and are subSect lo $uilablllty ched(s and confidentiality 8groèmènts. They fdlow the foundatlon rn￿e1 ty)n$titution. Objéth•8 Ducldlngs Preschod provldes Ghlld4ed. early y&ar8 educolon and holiday dub 8ervlces for chlldren aged 210 11 years. Wè work cdlaboratively wlth families to foster an envlronment where children can thr￿. Our settlng Is regu18ted by Otsted and governed by a board of irustees. The trustses ensure that the setting manager and officer manag8r. handle Ihe daity oparations. aro supported and monitored. Tru8tee8 ar8 appolntsd throu9h resolutlons in property conv9ngd meetings. subject to 8uitability thecks and confidenllality agreements. and ftJlk>w the knnd8tknn model constitution. A¢hlovern•nts and portornian Rovlew of actsvities and Financial Revlew Pupll Numb•rn and Fw$ Th9 ocadamk year 8tsrled wtth 55 ¢hlldron rogistered, attending a total of 926 hour• por wogk. By the dos9 ofthe year, r8gi8trallon had In¢rgasgd to 73 chlldr•n, attonding 1,430 hourn pw Ymk. to Incrgaslng cp8ratiork21 CC>sts, the tw$t8as rnwewed tl)e preschoc4's hourly rates. Consequenly. it was deC￿ed that from S•pt•mb•r 2024, the howty rate w¢)uld be Increased by £0.60 for all children. Ag• Group 202312024 Rate 202412025 Rat0 2-yoar•old$ £5.60 3+ Year￿Id5 £4.80 £5.40 Hourfy rate¥ for br•akfast club, after school club, and Iwllday dub rgmaln unch8nged at £400 pw hour, whh a scheduted revlew In the 202412025 school year. Thi$ fee rovlew was the first in five years, wlth 8nnu81 revlews planned ffloving forward. Incom• The prescl¥)ol's total reported Income for 202312024 wa8 £298,900. represèntlng an Impre5sfve 48% Incm•• ov•r th• budyt. DUGKUNGS PRESCHOOL CREATON CIO REPORT OF THE TRUSTEES (contlnu•d} The primary sourcg of inGcrtne comes from govemmenl-fvntsd chlld¢are and Invdced ts88: Presth)ol FundlrrfJ' 45% Pres￿1 Involcos: 14% Hc4iday Club Fundng and Invol￿.. 19% Breakfast and After School Club Funding and Invoices: 11% o PAYG (Pay As You Go) Fundlng and Invthces: 2% Tar9eled SEND Fundlng.. 1% An opknal hot Ineal provlsion acct)unled for an addltlonal 5% ￿ inwme. A hlgher proporknon of tha pr6school's income wne from government funding compargd to prevlo y8ars, laryety due to th6 introdudon of fund8d childcara for 2-year4ds of woMng pargnts, whi¢h was implemantsd In Aprl 2024. Thls trond18 expocted to Gondnua. Increaslng rellanGo on govamment onthbutions. As a regl8tered charrty. all InGome Is reinvested Into tho wosthcKJl to enhance tho •d￿atiOnal exp8ri&nce and overall welkb8lng of the children. Total oxp•nditure for the year amountèd to £248,861. which w88 19% ovor budyt. The primary expense8 we￿.. employment Gosts.. ao% oftotal expendmure utiiitles: 6% HMIth & Safety: 4% {kndudlng new Intamal and Èxtem818ecurlty measur06) Food: 2% Our c(Mnmlbnent to Pa￿ng ￿MP8￿tive wages has played a cruual rol8 in staff retention, r8sutting ￿ a m¢yg Wblo and $upportiv8 onvironment for ts children. ultimately leadlng to Inuoasad registrations d a po8Mve rgputatlon wlthln tho cA)mmunlty. Inveslm•nt I arKI rfO￿anCe The Trust Deed p8miK8 the Trustses, in th8irabsoluts d18tt8tlon. or8nyappointed 1nvestmentadv1￿rn, to Invest In any investmont. securities or wopwty, 88 it thinks ft At 31 August 2024. M mney had been invested by the Charlty. The Chartty has not currenly Invested any funds. Before any Investments ttkn pl8ca. an Investment policy would be developèd and apwoved by the Trustees. Poll¢y t)uckllngs Pr08ehod malntalns a reserve equivalènt to thr•• month*. Tunnlng ¢osts and rndundancy pay for quatlfylng staff. Over the past five yoars. tho charity accumulated funds In reserve in th8 hope of purchaslng the Ilding from the local OLthority. The LA ha$ confinned they do not currently vish to release the asset We are now oblo to invest the accumulated reserve funds back Into thg Presch￿1. and proposai8 for relnvestment aro gLrtlined in thi8 rawL DUCKUNGS PRESCHOOL CREATON CIO REPORT OF THE TRUSTEES (continu•d) The Inibal fv•w•ar l•a¥• h89 ended. and the Ioc81 authority has o)nfimi8d {vlo email) an 8xt8nslon of 57 Y￿r8. As of rwi, no formol lease agreement has be￿ Issued. We anlldpate that thè annual rent wil remaln the samè, ￿ded tho tern￿ ofthe pri¢y1gase are upheld. Rolnv•stmont Proposals At the end of the 202312024 flnanciat year. the preschts)I's total equlty stands at £292N23. Ofthls amount. £110,000 Is to b9 hol¢J in rgserwe a¢¢ording to our poli¢y vrith an additional £88.000 held to meet unexpected calls on fvnd5. We propos8 inv•sting approx. £94.000 baek into tha preschool durlng the 202412025 school year to implement larg8-scal8 improv8ments that wlll dlrectty benefit the children and 6nhanc8 the preschool envlronmont Where possible, granl fundlng vrrill be sought to offset ￿$ts. The rehwestsnent woposals indude: School Mlnlbus- £30,000 A minlbus would alk¥w us to expand the aftgr-school club by colloctiry mLYe children from local prfmary schools. It wll also facilitat8 excuTslon$ for preschool chlltlren. Dl9llal Inl•ractlvo Tou¢h A¢tlvlty and S•n¥ory Tabl•-£4000 This equipment will Introduce technolouy hto the18arnkno envlronmenl, enrfchlng our curriculum. Hyggg Room- £10,OIJO The old craft room will bg Iran8fonngd Into a Hygge Room. offering a calm. neulral space for younger chlldr8n, parucularly benoflryal as more 2-year-okls rogislor for the Sen¥ory Ro¢xn-£15,000 Th8"duTnp room. wlll be repurposed into 8 sensory rwm. designed to support our growlng number of SEND {Speclal Educational Nwjs and Disabilities} chlldr8n. The $Poce *rfll provkl8 a safe. calmlng gnTrAronm8nt for Self￿re and recovery. CloakroMI Rog•Mratk>n- £10.000 We aim to creats a more welcomlng and fvncllonal spacè for thildren lo store thBlr belongings. wfth improved ngppy change fadllties and general weschool equlpmenl. Genernl Rwlrs and M•lntsnanc•- L25,000 Essential repairs, Including ro￿ repalrs, new lighting. emergency lighllng end replacing carpet tiles wilh hyglenic laminate flooring In children's rooms. Propowl Incom• Expanslon Plans Introductlon of Baby Room: This wll be researched as 8 Fthntial new servlce. Exparffjlon of Aftor Sch¢x+l Provlslon: If a mlnlbu$ ig acquired. we wlll explore expandlng our aftor4chool servic*s to ad￿￿onal local primary #chools. DUCKLINGS PRESCHOOL CREATON CIO REPORT OF THE TRU3TEE8 {contlnu•dl Looklng Ahéad With rising Opera￿Onal costs and in¢xeaging pupll numbers, our westhty)I Is wel￿pOsi110ned to ¢))n￿nue provldlng higkpqualty education and care. The in¢rea88 In h(wrty fee$ wlll support th sustainabllity of our saNice8, allowing u6 to maintain and improv8 the environment in whlch hildren flourish. Trustees wlll conlnue to ensure responslNe finanGlal managemen( Investin9 in areas that b￿9ffl Ihè chlldren and stsff. Tho annual r9view of fees wlll help balance afftirdability for families wlth th& eschool's nè8d to cover operallonal Gosts. We remain cornm￿d to ￿hOldIng ow mLsslon to enrkh Iho Ilvos of chiklren. nur￿￿ng thgm in safe, welKrfnlng and supporllve onvirorbmgnL TnJ8teg• R•spon8lbMttI•• Trustees are r6spon81bi6 for praparfng a Trusts85' Annual Report and financial statements In a￿OrdanCe wSth appllcable law and Unlte(l Klngdom A￿￿￿11[￿j Stsndards (Unitsd Klrvjdom Genorally Accepted Accounting Practice). Th6 law appllcable to charitigs in Engtand and Wal8$ roquiros Gharrty trusts•$ to proparg finanGi81 Statements for éach year which give a truo arKI far view of Ihe state of affairs of the charity and of tha wicomlng resour￿ and application of resourc88. ofthe charltyfor that peric￿. In prep8ring tho financial statements, th8 trustees are required to: select suitable aGGoun16ng polldos and then apply them Gon31stenUy: observe the methods and principle$ In the aP￿Icable Charities SORP; mao judgements and estlmatOS that are reasonable and prudent; state whother applicable accounting stsndards have been fdlowed, subject to any matorial departures that must be dtsdos&l and explained in the finandal statements,. and preparé the finandal statements on Ihg going concem basls unless It Is Inapproprfate to presume that tho charity will wntinue in buslness. Trustges are re$r￿n$l￿e for keeping proper arxOun￿n9 records that disclose wlth reasonablg acwra¢y at any time the finoncial F*)sibon of Foundaucfft and to 8nable them to 8n8uro that tho finonGiai statements c%)m￿Y with thg Charities Act 2011. tha applicable ChariUe$ (Accounts and R8port8) RegU￿￿S and the provisions of the TNSt deed. They are also responslble tor safeguardlng the assets of the Foundation and takir¥J reasonable stsps for the pyevenlion and detedM of fraud and clher Irrgguloritlo$. This report was revlowed and approved by the Trustees on 29 b8haK by.. 2025 and *ned on tholr Mr Tru8tsè ndo INDEPEMDEKf EXAMINER'S REPORT TO THE TRUSTEES OF DUCKUNGS PRESCHOOL CREATON CIO I report to th• tharity tru8tee8 ￿ my èxamination of the accounts oflhe charity for thè year ended 31 August 2024 sèt out on pages 910 14. R•sponsibllil1￿ and ba818 of report ¥ the d￿rIty's IrustO88 you are responsible forthe praparatlon of the aor>JJrts in accordance tha ulr8mÉnts of the Chèrltles Act 2011 Ilha Acr). I rgwrt in respect of my examSn*Son of the charity's accounts carrigd out under Sedon 145 of the Act end In carrylng out my èxamination I have followed all the applicable Dlrectirns given by the Charity Commi88lon un¢Jer secllon 145(51{b) of th8 Act. Ind•p•Thd￿t •xamln•rf$ $tat•m•nt The gross income exceeded £250.c￿￿1 and l am qu81Sfied to undertake th8 examlnatlon by t•ing a qualmed member ofthg Inslitut6 of Chartered Accountsnts In England and Wales (ICAEWk I h8ve completed my examinauon. I conltrm that no material have come tg my attgntion in Y)nn￿￿on with the examinallon gNing me cause to believ8 that In any matorial resp8Gt.' 8wunlng records ware not kopt In r95pect of Ihe charlty a¥ rgqutred by section 130 of the Art 2. the accounts do not accord with those record8,' or 3. Ihg accounts do not comply the applicable requlrements concorning the form arvj content of accounts set out In the Chadlles (Accounts and Report81 Regulations 2008 other than any requlrement that the accounts give a 'tru8 and falr vi8v¥ which is not a matter considered as part of an Independenl oxamination. I have no concems and have corne across no other mattèr8 in connecfion with the examination to vthich attontion should be drawn In thls report in orderto enable a proper underst8fK11ng of tho accounts to b8 reached. Gbn Bott FCA 5 Pond Spinney Overgton8 Northampton NN60 Dale.. 30 January 2025 DUCKLINGS PRESCHOOL CREATON CIO Statsm•nl Of Flnan¢ial A¢tlvlti Fort￿ y•ar endod 31 August 2024 2024 2023 INCOME FROM Charitablg ac￿VitI98 298,9fMI 302,975 TOTAL INCOME 298.9CK) 302.975 EXPENDITURE ON Charltabl• actlvltlos 248,861 221.837 TOTAL EXPENDITURE 248,861 221.837 NET MOVEMEKf 14 FUND8 50.039 81.138 TOTAL UNRESTRICTED FUNDS as at 1 S•pt•mb•r 2023 242.384 161.246 TOTAL UNRESTRICTED FUNDS a¥ at 31 August 2024 292.423 242,384 Th• not￿ on pag•s 11 to 14 fomi part of th•s• flnan¢l•l ¥tsl•m•nts. DUCKLINGS PRESCHOOL CREATON CIO Balance Shoet As al 31 Augus12024 2024 2023 CURRENT ASSET8 l)ebtors 2,676 9,008 Cash at bank 316,754 240,803 CURRENT LIABiunES Creditors 27,007 7.227 NEf ASSEf8 292,423 242.384 CHARrrY FUNDS Unreslrlded funds 292.423 242,384 TOTAL FUNDS 292,423 242,384 The financial 8talemgnts w8r8 approv8d by tha Trustees on LEhaif by: 2025 and S(qn￿ on thoir ando Tru8tse The rM)ts8 on pag88 11 to 14 fom) part of thesa financ181 $19tom8nts. io DUCKLINGS PRESCHOOL CREATON CIO NotOS to tho Flnancial Statement¥ Forthg yaar ￿ded 31 August 2024 1. ACCOUNTING POLICIES Ba•1• of pr•pva¢lon ot Ilnancknl %1atsm•nt The financial ststements hav0 beon wepared in accordance with the Staton*nt of Recommended Pracuce ISORPI'AcciJunting and Reporting by charl￿es,. applicable lo charities preparing their accounts In accordance with the Finan¢ial R8POrting Standard applicable in the United Klngdom arnl Republic of Ireland IFRS 1021, the Charltl8s Act 2011 and applicable reguktKJns. The accounts have been preparad undor th8 historical cost conventl¢)n wilh itom5 recogn18ed as cost or tran8actlon valug unless 0thgrw*g Stated in tho reigvant notsl$> to th• accounts. The Charity constitutes a publi¢ t*nefft enttty as defined by FRS 102. Fund a¢¢ounting G8nar81 fvnds are unre3trlcted furKls whic*b are available for u$e ot the distrx&tion of the Tn￿909 In furtherance of tho general objectives of the ￿rity and whith have not b8en dosignated for oth purposes. Incomlng rnsourt AJI Ino)mkng resource8 are Included In the Statsment of Financial ktivitias when the Charlty has ent￿1￿ent lo the fvnds, after any performan¢e condrtlons have been mec the •M￿nt Gan be measured reliably. and It b wctsble the Income will be recel¥ed. Resourc•8 oxpendad Exp&nditur¢ Is owiunted for on an accruals basis and has be¢n Induded under expense categorle8 that oggregate am costs for allocation to ac￿￿eS. Where C•)gts cannot be dlredy 8ttdbuled to partitwlar activNles. they have b8en alk)cated on a basis conslstent wlth the use of the resources. Golng ¢onc•m The IlnarKlal ststements have been prepared on a golng cortem bas18 88 the tru8tee8 bell8ve that no material uncertainties exist. The Trustees have considered the level of funds held and the expacled lèvel of income and expenditure 12 months from authorlsing thesè financ￿1 8tatomonts. li DUCKUNGS PRESCHOOL CREATON CIO Notes to tho Flnand41 Stat•m•nts (conllnugd) I INCOME FROM CHARrrABLE ACTMTIES Unmtrfctod fvnds 2024 Vnrestrfcted fvnds 2023 Pre5thool Fees PAYG Preschool Fundin8 EYPP HNF Breakfast and After khool Club Hollday aub Meals NMRU-Milk Chlldren's Unlform Room Hire Intere# Fundralslng INC Educatlonal Skills Funding 41,783 6,022 135,522 387 68,386 6,189 120,691 341 9,860 31.269 46,245 12,758 756 iio 2.320 1.530 1,020 33.493 56312 15,164 716 21 591 4,433 1,067 298,91XI 302,975 12 DUCKLINGS PRESCHOOL CREATON CIO Notss to the Flnwclal Stal•m•Dts I￿ntInu•d) 3. EXPENDrruRE ON CHARrrABLE ACTIVITIES Unrel￿¢￿d fund• Unr•strl¢t•d lund• 2024 2023 5,999 771 5,161 760 Milk Chlldren's Unlfomi Employment costs Utilittes Rent and Rat0$ Insuranea Raglstratw)n and Li¢èn$wwJ Flnance Health and Safety Officg SALT. SEND and EYPP Cufflculum EnhanLYnent Play Equipmont Consurnabtes (Craft) Hygiena and Cleaning Other Settlng Costs Other Slaff Costs Othar Costs 199.953 14.685 3,127 1.288 400 432 9.386 1.860 1.524 3.028 756 1,390 1.477 529 910 1,346 159.533 15,283 2.851 427 171 274 1.414 2,165 22,108 1,795 1.315 659 1.004 4.372 248,861 221.837 NEf INCOMING RESOURCES During Iha Y￿r. no Trusteés received any remuneration. Durkng the year, no Trustees roceivod any banefts in ￿nd. Dur*)g the year. no Trustees received any reimbursement of e￿nseS. 13 DUCKUNGS PRESCHOOL CREATON CIO Nol•s to tho Flnan¢lal 81at•m•nts {¢ontlnued) CREDITORS Unrnstrlct•d funds Unrostrlct•d funds 2024 2023 Swtgl secu￿ty and oth8rtaxe8 other croditor8 Accrua18 and deferred kncome 6.820 3.848 1.072 2.507 20,187 27,007 7,227 FUNDS Brought Forward In¢omlng r•souY¢•8 RosouTC•S Exp•nd•d Carrl•d FoThvard Unrestrlct•d ￿nd& Gen9ral IlJnds RELATED PARTIES There w8ro no related party trartsactknng dwlng th8 yg8r. 14