**COLD NORTON PRE-SCHOOL REGISTERED CHARITY NO 1187939**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2022**
## **COLD NORTON PRE-SCHOOL REGISTERED CHARITY NO 1187939**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2022**
## **CONTENTS**
||Page|
|---|---|
|Charity Information|1|
|Report of the Trustees|2 - 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Statement of Assets and Liabilities|6|
|Notes to the Accounts|7|
## **COLD NORTON PRE-SCHOOL**
## **CHARITY INFORMATION**
## **FOR THE YEAR ENDED 31st AUGUST 2022**
|**Trustees**|Lois Hall (Treasurer)|
|---|---|
||Sarah Yates|
||Emma Rolison|
||Sarah Brennan|
|**Address**|Cold Norton Village Hall|
||Cherry Blossom Lane|
||Cold Norton|
||Essex|
||CM3 6JQ|
|**Registered Charity Number**|1187939|
|**Independent Examiner**|Lisa Greenwood FCCA|
||Lambert Chapman LLP|
||3 Warners Mill|
||Silks Way|
||Braintree|
||Essex|
||CM7 3GB|
Page 1
## **COLD NORTON PRE-SCHOOL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31st AUGUST 2022**
The Trustees of the Charity, who are the committee in office at this year-end, present their annual report with the financial statements of the charity for the year ended 31st August 2022.
The Financial Statements attached show the Income and Expenditure for the year ended 31st August 2022 and the value of Assets and Liabilities at that date.
## **AIMS AND OBJECTIVES**
The aims of the charity are to advance the development and education of children below compulsory school age by encouraging parents to understand and provide for the needs of their children through community groups.
## **PUBLIC BENEFIT**
The charity aims to advance the development and education of children, the main activities of the charity are undertaken to further the charity's purposes for the public benefit.
The Trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **ACHIEVEMENTS AND PERFORMANCE**
The main activity has been the provision of a pre-school encouraging learning through play. Fundraising has been achieved mainly from half-term parties, a psychic night, raffles, commission from sales, sponsored events, committee school photo taking and cake sales.
Efforts to increase our income to match our outgoings has had a positive impact on our financial situation over the past few years. However, with government funding not being high enough, coupled with the huge jump in the minimum wage, we struggle to break even. Usually when children numbers rise by mid academic year, we begin to recover some lost monies.
We must continue our efforts to increase income whilst minimising expenditure and are taking the following steps to achieve this: -
▪ Additional fundraising activities have made a valuable contribution to our income and we will continue to organise these during the coming year.
▪ We will continue to look at the grants available to pre-schools.
▪ We will consider how best to address the increased costs of providing pre-school places for two year olds, in particular the increased staffing ratios required.
## **FINANCIAL REVIEW**
Income is derived from the government scheme for funding for pre-school education for 3 and 4 year old children and for some 2 year old children, together with private fee income for children who do not qualify. For 2022 this amounted to £125,512 compared with £97,777 in 2021.
Fund raising events and donations, which are needed to cover equipment and the shortfall in voucher income, amounted to £7,244 (2021: £6,764) of which £412 (2021: £3,285) was spent to generate this income.
Cash funds at the year-end amounted to £56,668 (2021: 47,253). Of these funds, £16,439 (2021: £16,439) is held in an interest bearing deposit account. The funds are unrestricted and are available for use at the Trustees' discretion in furtherance of the objects of the Charity.
Page 2
## **COLD NORTON PRE-SCHOOL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31st AUGUST 2022 (continued)**
## **RESERVES POLICY**
The Charity has available reserves of £56,668 as at the year end. The Charity needs to maintain a level of reserves in order to ensure that it is able to continue to operate, particularly if income levels were to fall. The Trustees are aware of the need to continue efforts to increase income whilst minimising expenditure. They will also continue to look at available grants and other funding opportunities.
## **NATURE OF GOVERNING DOCUMENT**
The Cold Norton Pre-School is a Charitable Incorporated Organisation. Its governing document is the Association Model constitution adopted on 13 February 2020.
## **ORGANISATIONAL STRUCTURE**
The Trustees, who administer the charity, meet at least six times per year to discuss policies and ways of implementing the purposes of the constitution, and to ensure that the requirements of the Charity Commission and HM Revenue & Customs are being met.
## **RISK MANAGEMENT**
The Trustees examine the major risks that the charity faces each year when preparing and updating their plans for the future. The Charity has developed systems to monitor and control these risks to mitigate any impact that they may have on the charity in the future.
The Trustees are aware of the need to ensure that they consider the level of grant funding provided by the Government in line with the Charity's running costs, particularly in respect of staff costs.
## **FUTURE DEVELOPMENTS**
The Trustees are continuing to monitor and review their finances to ensure that they are able to balance the funding received against the increasing cost levels. The Trustees are keen to explore other funding opportunities.
…………………………. Lois Hall Trustee
Date: 28-June-23
Page 3
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF**
## **COLD NORTON PRE-SCHOOL**
## **FOR THE YEAR ENDED 31st AUGUST 2022**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2022 which are set out on pages 5 to 7.
## **Responsibilities and basis of report**
As the charity's trustees, 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 charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all of 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 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 Act; or
2. the accounts do not accord with those records.
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.
Lisa Greenwood FCCA
Date: 29-June-23
Lambert Chapman LLP Chartered Accountants 3 Warners Mill Silks Way Braintree Essex CM7 3GB
Page 4
## **COLD NORTON PRE-SCHOOL**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31st AUGUST 2022**
|**Receipts and Payments**
**Receipts**
Fees and funding received
Fundraising
Donations
Bank interest
Commissions
Clothing & miscellaneous sales
Furlough claims
Government Grants
Other Grants
**Total receipts**
**Payments**
Snacks
Premises
Staff costs
Insurance
Consumables
Equipment
Training
Advertising
Administration/stationery
Publications & subscriptions
Fundraising expenses
Trips and entertaining
Miscellaneous
Professional fees
Independent examiners fees
**Total payments**
**Net receipts/(payments) for the year**
**Cash funds brought forward**
**Cash funds carried forward**|**Unrestricted**
**Restricted**
**Total**
125,511.96
-
125,511.96
7,106.30
-
7,106.30
137.40
-
137.40
2.47
-
2.47
189.46
-
189.46
325.00
-
325.00
-
-
-
-
2,000.00
2,000.00
-
1,000.00
1,000.00
**133,272.59**
**3,000.00**
**136,272.59**
906.39
-
906.39
10,879.70
-
10,879.70
101,441.70
3,000.00
104,441.70
911.29
-
911.29
2,212.74
-
2,212.74
935.44
-
935.44
1,279.80
-
1,279.80
-
-
-
326.86
-
326.86
455.25
-
455.25
412.07
-
412.07
562.80
-
562.80
993.87
-
993.87
1,796.28
-
1,796.28
744.00
-
744.00
**123,858.19**
**3,000.00**
**126,858.19**
9,414.40
-
9,414.40
47,253.10
-
47,253.10
**56,667.50**
**-**
**56,667.50**
**£**
**2022**|**Unrestricted**
**Restricted**
**Total**
97,776.80
-
97,776.80
6,703.90
-
6,703.90
60.00
-
60.00
3.50
-
3.50
94.31
-
94.31
337.00
-
337.00
1,694.73
-
1,694.73
-
-
-
-
-
-
**£**
**2021**|
|---|---|---|
|||**106,670.24**
**-**
**106,670.24**|
|||354.21
-
354.21
5,150.80
-
5,150.80
79,581.13
-
79,581.13
895.45
-
895.45
1,380.35
-
1,380.35
1,389.08
-
1,389.08
1,086.80
-
1,086.80
514.90
-
514.90
56.31
-
56.31
273.94
-
273.94
3,284.60
-
3,284.60
187.00
-
187.00
663.41
-
663.41
1,047.47
-
1,047.47
-
-
-|
|||**95,865.45**
**-**
**95,865.45**|
|||10,804.79
-
10,804.79
36,448.31
-
36,448.31|
|||**47,253.10**
**-**
**47,253.10**|
Page 5
## **COLD NORTON PRE-SCHOOL**
## **STATEMENT OF ASSETS AND LIABILITIES AS AT 31ST AUGUST 2022**
|**Assets**
**Cash funds**
Bank accounts
Petty cash
**Liabilities**
Independent examiner's fees
**Guarantees**
The CIO has not given any guarantees.|**2022**
£
56,215.18
452.32
**56,667.50**
510.00
**510.00**|**2021**
£
46,975.01
278.09|
|---|---|---|
|||**47,253.10**|
|||504.00|
|||**504.00**|
||||
## **Secured debts**
There are no debts outstanding at the date of the Statement of Assets and Liabilities secured by an express charge on CIO assets.
Page 6
## **COLD NORTON PRE-SCHOOL**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2022**
## **1 Accounting policies**
## **Accounting convention**
The financial statements have been prepared under the historical cost convention and in accordance with the applicable accounting standards and the Statement of Recommended Practice on Accounting by Charities.
## **Income**
Gifts, donations and other forms of voluntary income have been included as and when they are received.
As the accounts are prepared under the Receipts and Payments basis, grant income has been recognised as and when received.
Bank interest has been recognised once received.
No permanent endowments have been received during the year.
## **Charitable expenditure**
All charitable expenditure is included on the cash paid basis.
## **Value Added Tax**
VAT is not recoverable by the charity and is included in the relevant cost of the item or service.
## **2 Trustee remuneration**
During the year, £3,585 was paid to Lois Hall, a Trustee, in respect of administration work and in-school help. These payments were not made in respect of undertaking the role of Trustee but were paid for services provided over and above normal trustee duties. The Constitution allows for payments to be made to Trustees provided the relevant conditions are contained within the Charity Commission guidance are met.
## **3 Taxation**
The Charity is potentially exempt from taxation in respect of income or capital gains received to the extent that such income or gains are applied exclusively to charitable purposes.
## **4 Tangible fixed assets**
Current purchases of equipment being written off in the year of acquisition.
## **5 Cash at bank and in hand**
|**Cash at bank and in hand**|||
|---|---|---|
|Barclays/Santander current account
Barclays/Santander deposit account
Petty cash|**2022**
**£**
39,775.93
16,439.25
452.32
56,667.50|**2021**
**£**
30,538.23
16,436.78
278.09|
|||47,253.10|
## **6 Related party transactions**
Other than the trustee remuneration outlined in note 2 above, there were no related party transactions in the year.
## **7 Retained funds**
|Opening balance 1st September 2021/2020
Net receipts/(payments)
Closing balance at 31st August 2022/2021|47,253.10
9,414.40
56,667.50|36,448.31
10,804.79|
|---|---|---|
|||47,253.10|
**These notes form an integral part of the accounts.**
Page 7