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2022-08-31-accounts

CHAIR OF TRUSTEES SUMMARY

COURT FIELDS PRE SCHOOL CIO

FINANCES 2021/2022.

~~~~~~~~~~~~~~~~~~~~~~~~~~~

CHAIR’S REMARKS.

Despite another challenging year, the setting has, once again, produced an enviable set of financial results (a copy of which are attached). The CIO has endured the ongoing issues with Covid, Flu and the general downturn in the economy, the Pre School has made an operating profit. At £17,000, this is £12,000 above last year’s figure. This gave the Trustees the opportunity to evaluate where the CIO stood regarding staff wages, and a general uplift was applied to all levels. It has also allowed the Setting to embark on various improvements to the building and outside areas to enhance the learning experience. Other expenses have, once again, been well controlled, which, as previously commented upon, is a good achievement. The Trustees would like to record their thanks to Sheryl Higgs, Manager, for her commitment. The attached finances have been produced by our accountants, and verified by them. Their statements are recorded on the documentation.

PREMISES

As advised to Trustees during the year, our Landlords, Wellington Youth Community Group, are relinquishing their interest in the Youth Centre, of which we are part. During the year, we have been negotiating with Somerset County Council, for our current Tenancy At Will to be made into a secure tenancy with the new landlords. The new Landlords will be the Castle Academy. We had been told that this would have been finalised in September, but this has not yet materialised. The Board has sought, and received, assurances that the Heads of Terms agreed will SCC, will form the new contract between the Trust and the Academy. This will ensure the continuance of the Pre School, and at preferential terms.

CLOSING COMMENTS

The Trustees are very pleased with both the financial, and the physical performance of the CIO. The Board acknowledges, with thanks, that the team of staff have been the reason for the continued success of the setting, more than ably led by Shery Higgs, our Manager.

Court Fields Pre School CIO

Statement of Accounts

31 August 2022

Charity No: 1187250

Court Fields Pre School CIO Report and Accounts for the year ended 31 August 2022

Trustees Katherine Chapman
Darren Wannell
John Clifford Marsh
Address Welington Youth Centre
Mantle Street
Wellington
Somerest
TA21 8SW
Charity No: 1187250
Accountants TS Partners Ltd
9 High Street
Wellington
Somerset
TA21 8QT
INDEX: Accountants Report 2
Balance Sheet 3
Profit and Loss Account 4
Notes to the Accounts 5

Page 1

Court Fields Pre School CIO Independent Examiners Report for the year ended 31 August 2022

We report on the accounts of the trust for the year ended 31stAugust 2020 which are set out on pages 2 to 4.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 and that an independent examination is needed.

It is our responsibility to:

Basis of independent examiner's report

Our examination was carried out in accordance with the general directions given by the charity commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. These procedures undertaken do not provide all the evidence that would be required by an audit and consequently we do not express an audit opinion on the view given by the accounts.

Independent Examiner's statement

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

I 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.

TS Partners Ltd 9 High Street Wellington Somerset TA21 8QT

Page 2

Court Fields Pre School CIO Balance Sheet for the year ended 31 August 2022

Court Fields Pre School CIO
Balance Sheet
for the year ended 31 August 2022
Notes
CURRENT ASSETS
Deposit accounts
Current accounts
Cash-in-hand
Deduct :
CURRENT LIABILITIES
Accruals
NET CURRENT ASSETS/(LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
CAPITAL EMPLOYED
Unrestricted Fund
2
Restricted funds
3		 Notes £
50,411
85,216
14		 2022
£
135,641
135,641
135,641
-
135,641		 £
50,385
68,147
14		 2021
£
118,546
135,641 118,546
- -
118,546
118,546
-
118,546

Page 3

Court Fields Pre School CIO Profit and Loss Account for the year ended 31 August 2022

2022
Unrestricted Restricted
funds
funds
Total
INCOME
Attendance fees
139,227
139,227
Fundraising
491
491
Donations and grants
6,791
6,791
Miscallaneous Income
573
573
Bank interest
26
26
147,108
-
147,108
EXPENSES
Staff wages
106,850
106,850
Accountancy
600
600
Staff training and DBS Checks
592
592
Cleaning
1,352
1,352
Resources & Materials
2,192
2,192
Insurance & PPA Subscription
956
956
Food
462
462
Relocation
-
-
Fundraising Expenses
132
132
Miscellaneous Expenses
3,156
3,156
Rent & Rates
7,783
7,783
Printing, Stationery & Adverts
-
-
Telephone
782
782
Pupil Premium Spend
276
276
Equipment, Maintenanc & Repairs
4,880
4,880
130,013
-
130,013
Net incoming resources before transfers
17,095
-
17,095
Transfers between funds
-
-
-
Net movement in funds
17,095
-
17,095
Balances brought forward at 1st September 2
118,546
-
118,546
Balances carried forward at 31st August 2022
135,641
-
135,641		 2021
Unrestricted Restricted
funds
funds
Total
132,363
132,363
1,030
1,030
3,089
3,089
598
598
-
-
137,080
-
137,080
102,601
102,601
360
360
869
869
1,808
1,808
1,554
1,554
1,068
1,068
306
306
-
-
134
134
2,052
2,052
7,642
7,642
-
-
871
871
1,225
1,225
1,568
1,568
122,058
-
122,058
15,022
-
15,022
-
-
-
15,022
-
15,022
103,524
-
103,524
118,546
-
118,546

Page 4

Court Fields Pre School CIO Notes to the Accounts for the year ended 31 August 2022

1 Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note to these accounts. The accounts have been prepared in accordance with the financial reporting standard applicable in the United Kingdom (FRS 102) and the Charities Act 2011.

Fund accounting

Restricted funds are to used for specific purposes laid down by the donor or grant making body. Expenditure for those purposes is charged to the fund, together with a fair allocation of overheads and support costs.

Unrestricted funds are donations and other income resources received or generated for expenditure on the general objectives of the charity.

Designed funds are unrestricted funds which have been designated for specific purposes by the trustees.

Restricted funds

The balance on restricted funds represents the amounts given to the charity to cover specific items of expenditure as designated by the donors. Such expenditure may be for specific projects.

Expenditure

Expenditure is allocated between:

2

Funds
Balance at 1st September 2021
Surplus/(Deficit) for the year
Transfer between funds
Balance at 31st August 2022		 Unrestricted
Restricted
2022
-
-
-
17,095
17,095
17,095
-
17,095

3 Payments to trustees and connected parties

The average number of persons employed by the charity 2022
7

Page 5