Treasurer’s Report
The financial year 2021-2022 has been a challenging year for the Pre-School. Having made a deficit of £22,603, However this is a smaller deficit than the previous year – which was £27,841. This is largely due to our cost base being influenced by the extra measures taken on during the Covid Pandemic, for example; extra cleaning and safeguarding measures that were put in place. The committee will need to continue to review our costs during the coming year.
We have managed to maintain our overall turnover with a small increase largely due to our fundraising activities and an increase in Council Funding. The After-School club income was down on the previous year possibly due to financial constraints and more parents engaged in home working (again because of Covid). Our total turnover was slightly up on the previous year which has helped to maintain our financial position.
The Fundraising income has increased this year to £5,996 with help from the Polehampton Trust donation of £2,539 and £622 raised at the summer fair. Our overall costs for this year 2022 have been reduced slightly from the previous year 2021. We will need to continue to monitor our costs carefully and control them where required. By contrast our staff costs continue to run at a higher level than in 2021 and we will need to make every effort to reduce staff costs next year in order to reduce the deficit.
Although we have a deficit in this financial year 2022, we are still in a healthy position with net assets of £59,243 and cash in the bank of £113,401. We are continuing to recover from the previous year and will be actively seeking to reduce the deficit going forward.
Peter Sullivan Treasurer Little Acorns (Colleton) Pre-School
Unaudited Financial Statements Little Acorns (Colleton) Pre-School CIO For the year ended 31 August 2022
Prepared by WoodWhite Accountants Ltd
Contents
-
3 Information
-
4 Independent Examiners' Report To The Trustees
-
5 Statement of Financial Activity
-
6 Balance Sheet
-
7 Notes to the Financial Statements
Little Acorns (Colleton) Pre-School CIO Page 2 of 9
Unaudited Financial Statements
Information
Little Acorns (Colleton) Pre-School CIO For the year ended 31 August 2022
Address
ABC Building
Colleton Drive Twyford
Berkshire RG10 0AX
Trustees
Kirsty Mcllwee
Joanna Blunden Heather Isherwood (Resigned XX XX XX) Phillipa Irving Samantha Davies (Resigned XX XX XX)
Loretta Webb (Appointed 14 December 2021) Peter Sullivan ( Appointed??)
Bankers
Metro Bank 201 Broad Street Reading Berkshire RG1 7QA
Independent Examiner
Paul Worthington ACMA ACA ATT (Fellow) CTA
Woodwhite Accountants Ltd
Chartered Accountants
Unit 4, City Limits
Danehill
Reading Berkshire RG6 4UP
Little Acorns (Colleton) Pre-School CIO Page 3 of 9
Unaudited Financial Statements
Independent Examiners' Report To The Trustees
Little Acorns (Colleton) Pre-School CIO For the year ended 31 August 2022
I report to the Trustees on the accounts of Little Acorns (Colleton) Pre-School CIO registered charity number 1189027 for the year ended 31 August 2022 which are attached
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 (The Charities Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act;
-
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and
-
to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general directions given by the Charity Commission. 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 any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 130 of the Charities Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signature..................................................................
Name: Paul Andrew Worthington ACA ACMA ATT CTA
Relevant professional qualification or body: Institute of Chartered Accountants of England and Wales (ICAEW)
Address: Woodwhite Accountants Ltd, Unit 4 City Limits, Danehill, Reading, Berkshire RG6 4UP
15 November 2022
Little Acorns (Colleton) Pre-School CIO Page 4 of 9
Unaudited Financial Statements
Statement of Financial Activity
Little Acorns (Colleton) Pre-School CIO For the year ended 31 August 2022
| Statement of Financial Activity Little Acorns (Colleton) Pre-School CIO For the year ended 31 August 2022 |
Statement of Financial Activity Little Acorns (Colleton) Pre-School CIO For the year ended 31 August 2022 |
|---|---|
| NOTES 2022 2021 |
|
| Incoming Resources | |
| Incoming Resources From Charitable Activities | |
| Council Funding 169,575 158,213 |
|
| Fees and After School Club 57,471 69,880 |
|
| Grants 5,698 5,469 |
|
| Other Income 1,009 - Income From Fundraising and Investments |
|
| Admin Deposits - 348 |
|
| Fundraising 5,996 1,208 |
|
| Interest Income 23 31 |
|
| Total Income From Fundraising and Investments 6,020 1,588 |
|
| Total Incoming Resources 239,772 235,150 Resources Expended |
|
| Operating Costs (Note 2) 23,309 25,186 |
|
| Premises Costs (Note 3) 15,945 14,851 |
|
| Staff Costs (Note 4) 219,394 218,567 |
|
| Fundraising costs 511 - |
|
| Legal and Professional Fees 3,184 1,906 |
|
| Depreciation - 2,450 |
|
| Finance Charges 30 30 |
|
| Total Resources Expended 262,374 262,991 |
|
| Net incoming/(outgoing) resources (22,603) (27,841) NOTES 2022 2021 |
|
| Movement in Funds | |
| Brought Forward | |
| Total Funds Brought Forward 81,846 109,687 |
|
| Total Brought Forward 81,846 109,687 |
|
| Net income/ (outgoing) resources (27,841) (27,841) Carried Forward |
|
| Total Funds Carried Forward 59,243 81,846 |
|
| Total Carried Forward 59,243 81,846 |
The Charity has no restricted or endowment funds, all funds are therefore unrestricted
Unaudited Financial Statements
Balance Sheet
Little Acorns (Colleton) Pre-School CIO
As at 31 August 2022
| Balance Sheet Little Acorns (Colleton) Pre-School CIO As at 31 August 2022 |
|||
|---|---|---|---|
| NOTES | 31 AUG 2022 | 31 AUG 2021 | |
| Current assets | |||
| Debtors | - | 5,338 | |
| Cash at bank and in hand | 113,406 | 125,340 | |
| Total Current assets | 113,406 | 130,678 | |
| Prepayments and accrued income | |||
| Prepayments | 1,325 | 1,395 | |
| Total Prepayments and accrued income | 1,325 | 1,395 | |
| Creditors: amounts falling due withinone year | |||
| Other creditors | 3,021 | 5,745 | |
| Total Creditors: amounts falling due within one year | 3,021 | 5,745 | |
| Accruals and deferred income | |||
| Accruals | 1,170 | 960 | |
| Income in Advance | 51,297 | 43,522 | |
| Total Accruals and deferred income | 52,467 | 44,482 | |
| Net current assets (liabilities) | 59,243 | 81,846 | |
| Total assets less current liabilities | 59,243 | 81,846 | |
| Net Assets | 59,243 | 81,846 | |
| Funds of the Charity | |||
| Unrestricted Funds | 59,243 | 81,846 | |
| Total Funds of the Charity | 59,243 | 81,846 |
Signed on behalf of all the trustees ............................................................................................. P. Sullivan (Treasurer) 17 November 2022
Print name of trustee .............................................................................................
Little Acorns (Colleton) Pre-School CIO Page 6 of 9
Unaudited Financial Statements
Notes to the Financial Statements
Little Acorns (Colleton) Pre-School CIO For the year ended 31 August 2022
1. Basis of preparation and accounting policies
Basis of preparing the financial statements
These accounts have been prepared on the basis of historic cost in accordance with:
-
Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);
-
and with Accounting Standards;
-
and with the Charities Act.
INCOMING RESOURCES
Recognition of Incoming Resources
These are included in the Statement of Financial Activity (SoFA) when:
-
the charity becomes entitled to the resources;
-
the trustees are virtually certain they will receive the resources; and
-
the monetary value can be measured with sufficient reliability.
Grants and Donations
Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources.
Tax reclaims on donations and gifts
Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.
Contractual income and performance related grants
This is only included in the SoFA once the related goods or services have been delivered.
Investment income
This is included in the SoFA when receivable.
RESOURCES EXPENDED AND LIABILITIES
Liability recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
ASSETS
Tangible fixed assets for use by Charity
These are capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost or a reasonable value on receipt and depreciated at the rate of 25% per year on a straight line basis.
Little Acorns (Colleton) Pre-School CIO Page 7 of 9
Unaudited Financial Statements
Notes to the Financial Statements
| 2022 | 2021 | |
|---|---|---|
| 2. Operating Costs | ||
| Admin and Compliance Costs | 5,786 | 4,589 |
| Equipment Leasing | - | 266 |
| Equipment Repairs and Renewels | 2,653 | 1,573 |
| Extra-curricular Activities | - | 374 |
| Food Provisioning | 1,103 | 1,539 |
| Postage, Printing & Stationery | 20 | 567 |
| Resources, Consumables & Equipment | 9,812 | 11,989 |
| Software and Computer Equipment | 2,914 | 3,002 |
| Sundry Expenses | 373 | 473 |
| Telephone & Internet | 648 | 813 |
| Total Operating Costs | 23,309 | 25,186 |
| 2022 | 2021 | |
| 3. Premises Costs | ||
| Cleaning | 4,593 | 4,338 |
| Electricity | 2,417 | 1,305 |
| Gas/Water/Refuse | 1,834 | 1,937 |
| Insurance | 2,680 | 2,288 |
| Property Maintenance | 1,343 | 4,135 |
| Rates | 2,406 | 176 |
| Rent | 673 | 673 |
| Total Premises Costs | 15,945 | 14,851 |
| 2022 | 2021 | |
| 4. StaffCosts | ||
| Employer's NI | 7,683 | 7,971 |
| Pension Costs | 4,939 | 4,726 |
| Staff Uniforms | 2,145 | 215 |
| Training | 3,037 | 1,900 |
| Wages and Salaries | 201,590 | 203,755 |
| Total Staff Costs | 219,394 | 218,567 |
| 2022 | 2021 | |
| 5. Details of certain items of expenditure | ||
| Fees paid for examination of the accounts | 1,170 | 1,080 |
| 2022 | 2021 | |
| 6. Paid employees | ||
| Average number of full-time equivalent employees in the year - Charitable Activities | 12 | 12 |
| Total Paid employees | 12 | 12 |
Little Acorns (Colleton) Pre-School CIO Page 8 of 9
Unaudited Financial Statements
Notes to the Financial Statements
7. Defined contribution pension scheme
The charity operates a defined contribution pension scheme to fulfil its statutory obligations. Its chosen provider is the National Employment Savings Trust (NEST).
| 2022 2021 |
2022 2021 |
|---|---|
| 8. Tangible Fixed Assets | |
| Addition | |
| Fixtures, Fittings and Equipment - B/Fwd 21,270 21,270 |
|
| Total Addition 21,270 21,270 Depreciation |
|
| Less Acc Depn on Fixtures, Fittings and Equipment - B/Fwd (15,484) (15,484) |
|
| Less Acc Depn on Fixtures, Fittings and Equipment - Charged in the year (5,786) (5,786) |
|
| Total Tangible Fixed Assets - - |
9. Notes to Tangible Fixed Assets
At the end of the 2016/17 year, the front outside area of the pre-school received a new spongy rubber surface and built-in sandpit.
Little Acorns (Colleton) Pre-School CIO Page 9 of 9
Unaudited Financial Statements
Unaudited Financial Statements Little Acorns (Colleton) Pre-School CIO For the year ended 31 August 2022
Prepared by WoodWhite Accountants Ltd
Contents
-
3 Information
-
4 Independent Examiners' Report To The Trustees
-
5 Statement of Financial Activity
-
6 Balance Sheet
-
7 Notes to the Financial Statements
Little Acorns (Colleton) Pre-School CIO Page 2 of 9
Unaudited Financial Statements
Information
Little Acorns (Colleton) Pre-School CIO For the year ended 31 August 2022
Address
ABC Building
Colleton Drive Twyford
Berkshire RG10 0AX
Trustees
Kirsty Mcllwee
Joanna Blunden Heather Isherwood (Resigned XX XX XX) Phillipa Irving Samantha Davies (Resigned XX XX XX)
Loretta Webb (Appointed 14 December 2021) Peter Sullivan ( Appointed??)
Bankers
Metro Bank 201 Broad Street Reading Berkshire RG1 7QA
Independent Examiner
Paul Worthington ACMA ACA ATT (Fellow) CTA
Woodwhite Accountants Ltd
Chartered Accountants
Unit 4, City Limits
Danehill
Reading Berkshire RG6 4UP
Little Acorns (Colleton) Pre-School CIO Page 3 of 9
Unaudited Financial Statements
Independent Examiners' Report To The Trustees
Little Acorns (Colleton) Pre-School CIO For the year ended 31 August 2022
I report to the Trustees on the accounts of Little Acorns (Colleton) Pre-School CIO registered charity number 1189027 for the year ended 31 August 2022 which are attached
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 (The Charities Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act;
-
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and
-
to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general directions given by the Charity Commission. 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 any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 130 of the Charities Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signature..................................................................
Name: Paul Andrew Worthington ACA ACMA ATT CTA
Relevant professional qualification or body: Institute of Chartered Accountants of England and Wales (ICAEW)
Address: Woodwhite Accountants Ltd, Unit 4 City Limits, Danehill, Reading, Berkshire RG6 4UP
15 November 2022
Little Acorns (Colleton) Pre-School CIO Page 4 of 9
Unaudited Financial Statements
Statement of Financial Activity
Little Acorns (Colleton) Pre-School CIO For the year ended 31 August 2022
| Statement of Financial Activity Little Acorns (Colleton) Pre-School CIO For the year ended 31 August 2022 |
Statement of Financial Activity Little Acorns (Colleton) Pre-School CIO For the year ended 31 August 2022 |
|---|---|
| NOTES 2022 2021 |
|
| Incoming Resources | |
| Incoming Resources From Charitable Activities | |
| Council Funding 169,575 158,213 |
|
| Fees and After School Club 57,471 69,880 |
|
| Grants 5,698 5,469 |
|
| Other Income 1,009 - Income From Fundraising and Investments |
|
| Admin Deposits - 348 |
|
| Fundraising 5,996 1,208 |
|
| Interest Income 23 31 |
|
| Total Income From Fundraising and Investments 6,020 1,588 |
|
| Total Incoming Resources 239,772 235,150 Resources Expended |
|
| Operating Costs (Note 2) 23,309 25,186 |
|
| Premises Costs (Note 3) 15,945 14,851 |
|
| Staff Costs (Note 4) 219,394 218,567 |
|
| Fundraising costs 511 - |
|
| Legal and Professional Fees 3,184 1,906 |
|
| Depreciation - 2,450 |
|
| Finance Charges 30 30 |
|
| Total Resources Expended 262,374 262,991 |
|
| Net incoming/(outgoing) resources (22,603) (27,841) NOTES 2022 2021 |
|
| Movement in Funds | |
| Brought Forward | |
| Total Funds Brought Forward 81,846 109,687 |
|
| Total Brought Forward 81,846 109,687 |
|
| Net income/ (outgoing) resources (27,841) (27,841) Carried Forward |
|
| Total Funds Carried Forward 59,243 81,846 |
|
| Total Carried Forward 59,243 81,846 |
The Charity has no restricted or endowment funds, all funds are therefore unrestricted
Unaudited Financial Statements
Balance Sheet
Little Acorns (Colleton) Pre-School CIO
As at 31 August 2022
| Balance Sheet Little Acorns (Colleton) Pre-School CIO As at 31 August 2022 |
|||
|---|---|---|---|
| NOTES | 31 AUG 2022 | 31 AUG 2021 | |
| Current assets | |||
| Debtors | - | 5,338 | |
| Cash at bank and in hand | 113,406 | 125,340 | |
| Total Current assets | 113,406 | 130,678 | |
| Prepayments and accrued income | |||
| Prepayments | 1,325 | 1,395 | |
| Total Prepayments and accrued income | 1,325 | 1,395 | |
| Creditors: amounts falling due withinone year | |||
| Other creditors | 3,021 | 5,745 | |
| Total Creditors: amounts falling due within one year | 3,021 | 5,745 | |
| Accruals and deferred income | |||
| Accruals | 1,170 | 960 | |
| Income in Advance | 51,297 | 43,522 | |
| Total Accruals and deferred income | 52,467 | 44,482 | |
| Net current assets (liabilities) | 59,243 | 81,846 | |
| Total assets less current liabilities | 59,243 | 81,846 | |
| Net Assets | 59,243 | 81,846 | |
| Funds of the Charity | |||
| Unrestricted Funds | 59,243 | 81,846 | |
| Total Funds of the Charity | 59,243 | 81,846 |
Signed on behalf of all the trustees ............................................................................................. P. Sullivan (Treasurer) 17 November 2022
Print name of trustee .............................................................................................
Little Acorns (Colleton) Pre-School CIO Page 6 of 9
Unaudited Financial Statements
Notes to the Financial Statements
Little Acorns (Colleton) Pre-School CIO For the year ended 31 August 2022
1. Basis of preparation and accounting policies
Basis of preparing the financial statements
These accounts have been prepared on the basis of historic cost in accordance with:
-
Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);
-
and with Accounting Standards;
-
and with the Charities Act.
INCOMING RESOURCES
Recognition of Incoming Resources
These are included in the Statement of Financial Activity (SoFA) when:
-
the charity becomes entitled to the resources;
-
the trustees are virtually certain they will receive the resources; and
-
the monetary value can be measured with sufficient reliability.
Grants and Donations
Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources.
Tax reclaims on donations and gifts
Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.
Contractual income and performance related grants
This is only included in the SoFA once the related goods or services have been delivered.
Investment income
This is included in the SoFA when receivable.
RESOURCES EXPENDED AND LIABILITIES
Liability recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
ASSETS
Tangible fixed assets for use by Charity
These are capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost or a reasonable value on receipt and depreciated at the rate of 25% per year on a straight line basis.
Little Acorns (Colleton) Pre-School CIO Page 7 of 9
Unaudited Financial Statements
Notes to the Financial Statements
| 2022 | 2021 | |
|---|---|---|
| 2. Operating Costs | ||
| Admin and Compliance Costs | 5,786 | 4,589 |
| Equipment Leasing | - | 266 |
| Equipment Repairs and Renewels | 2,653 | 1,573 |
| Extra-curricular Activities | - | 374 |
| Food Provisioning | 1,103 | 1,539 |
| Postage, Printing & Stationery | 20 | 567 |
| Resources, Consumables & Equipment | 9,812 | 11,989 |
| Software and Computer Equipment | 2,914 | 3,002 |
| Sundry Expenses | 373 | 473 |
| Telephone & Internet | 648 | 813 |
| Total Operating Costs | 23,309 | 25,186 |
| 2022 | 2021 | |
| 3. Premises Costs | ||
| Cleaning | 4,593 | 4,338 |
| Electricity | 2,417 | 1,305 |
| Gas/Water/Refuse | 1,834 | 1,937 |
| Insurance | 2,680 | 2,288 |
| Property Maintenance | 1,343 | 4,135 |
| Rates | 2,406 | 176 |
| Rent | 673 | 673 |
| Total Premises Costs | 15,945 | 14,851 |
| 2022 | 2021 | |
| 4. StaffCosts | ||
| Employer's NI | 7,683 | 7,971 |
| Pension Costs | 4,939 | 4,726 |
| Staff Uniforms | 2,145 | 215 |
| Training | 3,037 | 1,900 |
| Wages and Salaries | 201,590 | 203,755 |
| Total Staff Costs | 219,394 | 218,567 |
| 2022 | 2021 | |
| 5. Details of certain items of expenditure | ||
| Fees paid for examination of the accounts | 1,170 | 1,080 |
| 2022 | 2021 | |
| 6. Paid employees | ||
| Average number of full-time equivalent employees in the year - Charitable Activities | 12 | 12 |
| Total Paid employees | 12 | 12 |
Little Acorns (Colleton) Pre-School CIO Page 8 of 9
Unaudited Financial Statements
Notes to the Financial Statements
7. Defined contribution pension scheme
The charity operates a defined contribution pension scheme to fulfil its statutory obligations. Its chosen provider is the National Employment Savings Trust (NEST).
| 2022 2021 |
2022 2021 |
|---|---|
| 8. Tangible Fixed Assets | |
| Addition | |
| Fixtures, Fittings and Equipment - B/Fwd 21,270 21,270 |
|
| Total Addition 21,270 21,270 Depreciation |
|
| Less Acc Depn on Fixtures, Fittings and Equipment - B/Fwd (15,484) (15,484) |
|
| Less Acc Depn on Fixtures, Fittings and Equipment - Charged in the year (5,786) (5,786) |
|
| Total Tangible Fixed Assets - - |
9. Notes to Tangible Fixed Assets
At the end of the 2016/17 year, the front outside area of the pre-school received a new spongy rubber surface and built-in sandpit.
Little Acorns (Colleton) Pre-School CIO Page 9 of 9
Unaudited Financial Statements