REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
FOR
DOWNSIDE PRE-SCHOOL
DOWNSIDE PRE-SCHOOL
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
DOWNSIDE PRE-SCHOOL
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 5 APRIL 2024
TRUSTEES
Miss A A Evans Chairperson Mrs C Washington Treasurer Ms A Cox Ms J Russell
(resigned 18 July 2023) (appointed 18 July 2023)
REGISTERED OFFICE Oakwood Avenue Dunstable Bedfordshire LU5 4AS
REGISTERED CHARITY NUMBER
REGISTERED CHARITY NUMBER 1191830 INDEPENDENT EXAMINER Stoten Gillam Limited Chartered Accountants Alban House 99 High Street South Dunstable Bedfordshire LU6 3SF
Page 1
DOWNSIDE PRE-SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024
The trustees present their report with the financial statements of the charity for the year ended 5 April 2024.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity works for the public benefit having as its objects the development and education of children and young people in particular by:
-
1 - promoting their care and safety
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2 - promoting their education and promoting parental involvement
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3 - promoting their health and wellbeing
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4 - providing services to support them and their families and carers
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5 - providing services to individuals holding membership of the CIO
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6 - furthering the aims of the Early Years Alliance
Significant activities
The Pre-School provides education and care for children aged 2 -5 years through a range of play based activities to support the emotional, social and physical development in preparation for school.
Staff are highly qualified, undertaking continuous professional development to ensure their knowledge and development are kept up to date.
We are open 5 days a week, term time only.
Our current Ofstead rating is Good, continuing on from our previous charity's rating.
Our premises are suitable for this age range with daily safety checks done to ensure the safety for children and adults. Our resources are regularly replenished to ensure suitability.
The Pre-School follows all legal requirements set out in the Early years foundation stage (EYFS) 2023 and policies and procedures are updated to reflect any changes in current statutory regulations.
The trustees are currently in discussions with the local council about renewing our current lease. Our negotiations are focused on securing a lease arrangement this is both financially sustainable for our organisation and supports our continued ability to serve the community effectively. We are committed to finding a mutually beneficial solution that ensures the long-term stability and operational continuity of our charitable activities.
Public benefit
The trustees have due regard to the guidance on public benefit published by the Charity Commission 2006 Act section 4.
Volunteers
Trustees appointed to the committee are volunteers and are appointed by at least one trustee at an AGM.
FINANCIAL REVIEW
Principal funding sources
During the year, in addition to fees, the pre-school received local authority 2 year, 3 year and 4 year funding.
Reserves policy
There is no formal Reserves Policy in place, however, the unrestricted cash held in our reserve account at the end of 2024 were £30,481 (being part of the cash at bank of £60,550). The trustees intend to use the funds to replace equipment when necessary.
These reserves provide important financial protection, ensuring that organisation can manage potential operational challenges, including possible staff redundancy costs, ongoing operational expenses, and maintaining wage commitments in the event of unexpected delays in funding payments.
Page 2
DOWNSIDE PRE-SCHOOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Downside Pre-School CIO is a Charitable Incorporated Organisation in England and Wales, charity registration number 1191830, which follows the Early Years Alliance Model Constitution for Pre-schools.
Approved by order of the board of trustees on 20 December 2024 and signed on its behalf by:
Mrs C Washington - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DOWNSIDE PRE-SCHOOL
Independent examiner's report to the trustees of Downside Pre-School Charitable Incorporated Organisation ('the CIO')
I report to the charity trustees on my examination of the accounts of the CIO for the year ended 5 April 2024.
Responsibilities and basis of report
As the charity trustees of the CIO 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 CIO's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have complete 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:
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accounting records were not kept as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Mr Christopher Trevor The Institute of Chartered Accountants in England and Wales
Stoten Gillam Limited Chartered Accountants Alban House 99 High Street South Dunstable Bedfordshire LU6 3SF
3 January 2025
Page 4
DOWNSIDE PRE-SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 192,181 | - | 192,181 | 184,060 | |
| Investment income | 2 | 457 | - | 457 | 59 |
| Total | 192,638 | - | 192,638 | 184,119 | |
| EXPENDITURE ON | |||||
| Charitable activities | |||||
| Pres-school | 186,521 | - | 186,521 | 193,672 | |
| NET INCOME/(EXPENDITURE) | 6,117 | - | 6,117 | (9,553) | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 47,475 | 7,877 | 55,352 | 64,905 | |
| TOTAL FUNDS CARRIED FORWARD | 53,592 | 7,877 | 61,469 | 55,352 |
The notes form part of these financial statements
Page 5
DOWNSIDE PRE-SCHOOL
BALANCE SHEET 5 APRIL 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Debtors | 6 | 3,681 | - | 3,681 | 3,923 |
| Cash at bank | 52,673 | 7,877 | 60,550 | 56,072 | |
| 56,354 | 7,877 | 64,231 | 59,995 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 7 | (2,762) | - | (2,762) | (4,643) |
| NET CURRENT ASSETS | 53,592 | 7,877 | 61,469 | 55,352 | |
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 53,592 | 7,877 | 61,469 | 55,352 | |
| NET ASSETS | 53,592 | 7,877 | 61,469 | 55,352 | |
| FUNDS | 8 | ||||
| Unrestricted funds | 53,592 | 47,475 | |||
| Restricted funds | 7,877 | 7,877 | |||
| TOTAL FUNDS | 61,469 | 55,352 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 20 December 2024 and were signed on its behalf by:
C Washington - Trustee
The notes form part of these financial statements
Page 6
DOWNSIDE PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The charity constitutes a public benefit entity as defined by FRS102.
The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Deposit account interest | 457 | 59 |
continued...
Page 7
DOWNSIDE PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2024
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2024 nor for the year ended 5 April 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2024 nor for the year ended 5 April 2023.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
5.
| 2024 | 2023 | ||
|---|---|---|---|
| Early years educators | 10 | 12 | |
| No employees received emoluments in excess of £60,000. | |||
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL | ACTIVITIES | ||
| Unrestricted | Restricted | Total | |
| fund | funds | funds | |
| £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 182,947 | 1,113 | 184,060 |
| Investment income | 59 | - | 59 |
| Total | 183,006 | 1,113 | 184,119 |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Pres-school | 192,559 | 1,113 | 193,672 |
| NET INCOME/(EXPENDITURE) | (9,553) | - | (9,553) |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 57,028 | 7,877 | 64,905 |
| TOTAL FUNDS CARRIED FORWARD | 47,475 | 7,877 | 55,352 |
continued...
Page 8
DOWNSIDE PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2024
6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Prepayments and accrued income | 3,681 | 3,923 | |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Accruals and deferred income | 2,762 | 4,643 |
There were no secured creditors, either during the year or at the yearend. Nor was there any guarantees given in the year.
8. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 6/4/23 | in funds | 5/4/24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 47,475 | 6,117 | 53,592 |
| Restricted funds | |||
| Fencing | 7,877 | - | 7,877 |
| TOTAL FUNDS | 55,352 | 6,117 | 61,469 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 192,638 | (186,521) | 6,117 |
| TOTAL FUNDS | 192,638 | (186,521) | 6,117 |
continued...
Page 9
DOWNSIDE PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2024
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 6/4/22 | in funds | 5/4/23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 57,028 | (9,553) | 47,475 |
| Restricted funds | |||
| Fencing | 7,877 | - | 7,877 |
| TOTAL FUNDS | 64,905 | (9,553) | 55,352 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 183,006 | (192,559) | (9,553) |
| Restricted funds | |||
| Training | 933 | (933) | - |
| Third party fund raising | 180 | (180) | - |
| 1,113 | (1,113) | - | |
| TOTAL FUNDS | 184,119 | (193,672) | (9,553) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 6/4/22 | in funds | 5/4/24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 57,028 | (3,436) | 53,592 |
| Restricted funds | |||
| Fencing | 7,877 | - | 7,877 |
| TOTAL FUNDS | 64,905 | (3,436) | 61,469 |
continued...
Page 10
DOWNSIDE PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2024
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 375,644 | (379,080) | (3,436) |
| Restricted funds | |||
| Training | 933 | (933) | - |
| Third party fund raising | 180 | (180) | - |
| 1,113 | (1,113) | - | |
| TOTAL FUNDS | 376,757 | (380,193) | (3,436) |
9. RELATED PARTY DISCLOSURES
During the year the charity's treasurer, Mrs C Washington,,was paid a total of £2,008 (2023: £2,380) for her administration services and reimbursed £1,258 (2023: £1,348) for travelling and accommodation charges to perform this function.
She receives no payment nor is paid an enhanced rate due to her position as a trustee.
Page 11
DOWNSIDE PRE-SCHOOL
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 200 | 180 |
| Grants | 167,339 | 168,075 |
| Fees | 24,642 | 15,805 |
| 192,181 | 184,060 | |
| Investment income | ||
| Deposit account interest | 457 | 59 |
| Total incoming resources | 192,638 | 184,119 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 147,197 | 148,941 |
| Social security | 4,592 | 5,041 |
| Pensions | 2,112 | 2,283 |
| Educational Resources | 3,546 | 4,896 |
| Classroom refreshments | 1,532 | 1,424 |
| Ofsted fees | 35 | 85 |
| Staff training | 400 | 250 |
| Staff uniform | 322 | 77 |
| DBS checks | 124 | 374 |
| Staff welfare | 517 | 405 |
| Donation | - | 180 |
| 160,377 | 163,956 | |
| Support costs | ||
| Management | ||
| Premises costs | - | 815 |
| Office costs | 2,152 | 2,252 |
| Administration expenses | 3,730 | 5,122 |
| Communications | 1,494 | 1,248 |
| Maintenance and repairs | 8,226 | 11,001 |
| Cleaning | 6,065 | 4,773 |
| Advertising | - | 30 |
| Travel and subsistence | 1,258 | 1,348 |
| Licences and subscriptions | 1,066 | 1,919 |
| Early Years Alliance membership | 1,036 | - |
| 25,027 | 28,508 |
This page does not form part of the statutory financial statements
Page 12
DOWNSIDE PRE-SCHOOL
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Management | ||
| Finance | ||
| Bank charges | 97 | 108 |
| Governance costs | ||
| Penalties and fines | - | 200 |
| Accountancy | 1,020 | 900 |
| 1,020 | 1,100 | |
| Total resources expended | 186,521 | 193,672 |
| Net income/(expenditure) | 6,117 | (9,553) |
This page does not form part of the statutory financial statements
Page 13