## BURWELL EARLY LEARNERS CIO ## FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2022 Registered Charity Number 1192333 **BURWELL EARLY LEARNERS CIO Trustees Annual Report Year Ended 31 August 2022** ## **MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS** **REGISTERED CHARITY NAME: CHARITY NUMBER:** **Burwell Early Learners CIO 1192333** **TRUSTEES as of 31 August 2022:** Elizabeth Swift Cara Bootman (Maltpress) Alexandra de Giorgio-Miller Amy Fordham ## **AUDITOR:** Stuart Hunter Hunters Accountancy Services 2 The Leys Burwell Cambridgeshire CB25 0DZ **BANKERS: The Cooperative Bank** **BURWELL EARLY LEARNERS CIO Trustees Annual Report Year Ended 31 August 2022** The trustees have pleasure in presenting their report and the financial statements of the charity for the year ended 31 August 2022. ## **REFERENCE AND ADMINISTRATION DETAILS** ## **The trustees** The trustees who served the charity during the period were as follows: Elizabeth Swift Cara Bootman (Maltpress) Alexandra de Giorgio-Miller Amy Fordham ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Nature of the Governing Document and Constitution of the charity** The charity is a charitable incorporated organisation (CIO) governed by a written constitution adopted by its members. There are no restrictions in the governing document on the operation of the charity or its investment powers, other than those imposed by general charity law. ## **The methods adopted for the recruitment and appointment of new trustees** The trustees are appointed at the AGM of the charity to serve for two successive years and shall retire from office with effect from the conclusion of the second AGM following their appointment. At every AGM, one third (or the number nearest to one third) of the elected charity trustees shall retire from office. The vacancies so arising may be filled by the decision of the members at the AGM. Each candidate is proposed and seconded, before voting takes place. Any person who retires as a trustee at the AGM is eligible for reappointment. To encourage parental involvement, at least two thirds of the charity trustees shall normally at the time of election be family members. In the event that this figure cannot be achieved however, the CIO may elect affiliate members to make up the balance of the charity trustees. ## **The policies and procedures adopted for the induction and training of trustees** The charity trustees will make available to each new charity trustee: a copy of the constitution and any amendments, a copy of the CIO’s latest trustees’ annual report and statement of accounts, and a copy of the roles and responsibilities of trustees as produced by the Charity Commission. ## **The organisational structure of the charity and how decisions are made** Subject to the provisions of its constitution, the affairs of the charity are managed by an executive committee, which meets on a regular basis. The committee are elected at an Annual General Meeting and consists of the following members: - Chair - Secretary - Treasurer ## **BURWELL EARLY LEARNERS CIO Trustees Annual Report** ## **Year Ended 31 August 2022** All questions at any meeting are determined by simple majority votes cast by members present, with each member having one vote. ## **Membership of a wider network** The group are members of the Pre-school Learning Alliance ## **The major risks to which the charity is exposed and reviews and systems to mitigate risks** The trustees identify the major risk to which the charity is exposed each financial year when preparing and updating a strategic plan, in particular those related to the operations and finances of the charity. The trustees then review any major risks which have been identified, and establish systems to manipulate those risks. The charity is satisfied that the systems are in place to mitigate their exposure to the major risks which have been so identified and reviewed. ## **Relationships with other groups, charities and individuals** Many of the children attending Burwell Early Learners CIO move on to Burwell Village College and our After School Club services children from this school, and as a result the charity is often in contact with the school. ## **OBJECTIVES AND ACTIVITIES** ## **Name and constitution of the charity** The full name of the charity is Burwell Early Learners CIO. The charity was formed as a charitable incorporated organisation on 27[th] Feb 2020 and began trading as such on 1[st] Sept 2021. ## **Objectives and Activities of the charity** ## **A summary of the objects of the charity as set out in its governing document.** The charity is governed by a written constitution in which its objects are set out. The object of the charity is to enhance the development and education of children primarily under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups. ## **The Charity's grant making policies** This is not applicable to the activities of the charity as no grants are made. ## **Summary of main activities of the charity in relation to its objects** The charity provides a facility whereby the development and education of pre-school and primary school children could be enhanced. ## **Fundraising activities** The charity has received grant aid from the Co-operative, whose support is valued. In addition, there have been a number of other fundraising activities to provide for additional equipment. **BURWELL EARLY LEARNERS CIO Trustees Annual Report Year Ended 31 August 2022 Employment of disabled persons** Burwell Early Learners is an equal opportunities employer. ## **FINANCIAL REVIEW** ## **Policies on reserves** The trustees have resolved to establish reserves to provide for future activities. Within those powers, a statement of investment principles has been adopted as set out below. The policy on reserves is that the existing assets are retained to produce income which is wholly utilised to support existing activities. There is no intention in the long term to either increase or reduce the capital held. This policy is justified in that it is necessary to preserve income at the present levels in order to maintain the activities of the charity. The investment performance is monitored regularly with the statement of investment principles. ## **Principle funding sources and how expenditure in the year under review has supported the key objectives of the charity.** The principal source of funding of Burwell Early Learners CIO is from fees and subscriptions either in the form of County Council Vouchers or from parents or carers. The principal expenditure is staff and equipment costs to carry out the objectives of the charity. ## **Availability and adequacy of assets of each of the funds** The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund. ## **Transactions and Financial position** The Statement of Financial Activities show net incoming resources for the year of a revenue nature of £10,079. The total reserves at the year-end stand at £362,570. The majority of the expenditure is staff and equipment costs. ## **PLANS FOR FUTURE PERIODS** Besides reviewing policies and procedures, the new Committee will be looking at: - Building up reserves which were used during Covid-19 lockdown periods - Budgeting to ensure that BEL CIO remains viable during times of increased costs - Investment in an outdoor learning area to be used for 1:1 and small group work ## **RESPONSIBILITIES OF THE TRUSTEES** Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial **BURWELL EARLY LEARNERS CIO Trustees Annual Report** ## **Year Ended 31 August 2022** statements are required by law to give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 1993. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware: there is no relevant audit information of which the charity's auditors are unaware; and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. Signed on behalf of the **trustees** Mrs A J de Giorgio-Miller, Treasurer Date: 6[th] Feb 2022 8URWELL EARLY LEARNERS REGISTERED CHARITY NUMBER 1192333 PaBe I STATEMENT OF FINANCIAL A￿1VITIEs FOR THE YEAR ENOED 31 AUGUST 2022 Unrestricted fund5 2022 Restricted fvnds 2022 Total funds 2022 Total funds 2021 INCOMING RESOURCES INCOMING RESOURCES Incoming resources from generating funds Voluntary income Fundraising income Investment income 4.826 1.620 16.073 20.899 1.620 79 12,232 3,174 12 Other incoming resources 352 Incoming resources from charitable actrrfities, fees 210.552 210.552 195,274 217,078 16,073 233.151 211,043 RESOURCES EXPENDED Governance Charitable artNities 2.326 195.188 2,326 220,746 2,256 218.934 25.559 197,514 25.559 223.072 221.190 NET INCOMING RESOURCES 19.564 19A86) 10,079 (10.1471 Unrestricted Restricted Totsl Total funds brought forward Total funds carried forward 78,496 98,060 273,995 264.510 352,491 362.570 These financial statements for the year ended 31st August 2022 were approved by the trustees of Burylell Early Learners at a meeting dated 6 February 2023 and are signed on their behalf by Alexandra de Giorg1￿￿11ler rtffjl(ef 0610112021 BURWELL EARLY LEARNERS REGISTERED CHARITY NUMBER 1192333 Page 2 BALANCE SHEET AS AT 31 AUGUST 2022 2022 2021 Assets Fixed assets Debtors Prepayments Cash at bank and in hand 297.172 307.232 85,716 45.755 382.889 352,986 Liabilities Creditors 120.3191 1495) Net Assets 362,570 352,491 Re resented B Restricted income funds Unrestricted income funds 264.510 98.060 273,995 78.496 362,570 352,491 BURWELL EARLY LEARNERS REGISTERED CHARITY NUMBER 1192333 Page 3 DEPRECIATION COMPUTATION FOR THE YEAR ENDED 31 AUGUST2022 Fixed Asset Freehold Total At Cost Pro ui Balance B/Fwd Additions Eliminated on Disposals 474.293 37.249 511.542 8alante C/Fwd 474293 37249 SIIy2 De reciation Balance BIFwd Charge for period Eliminated on Disposals 169.356 9.486 34.954 574 204,310 10.060 Balancè cIFwd 178 35.528 214.369 NBV @ 31108n022 295AS1 i.ni 297.172 NBV @ 0110912021 304,937 2.295 307.232 Note Depreciation is calculated so as to write off the cost of an asset less its estimated residual value over the useful economic life of the asset as follows: Freehold Property Equipment 2% Straight Line 25% Reducing Balance BURWELL EARLY LEARNERS REG15fERED CHARITY NUMBER 1192333 Page I NOTES TO THE Accoumrs FOR THE YEAR ENDED 31 AUGUST2022 Unrestricted funds 2022 Restricted funds 2022 Total funds 2022 Totsl fund5 2021 NOTE I INCOMING RESOURCES FROM VOLUNTARY INCOME Donations 4.826 4.826 4,437 Grants Furlough payments Child Support 1,820 5,975 16.073 16.073 4.826 16.073 20,899 7.795 NOTE 2 OTHER INCOMING RESOURCES Unifom) chafges Training courses Miscellaneous receipts 352 352 NOTE 3 COSTS OF CHARITABLE A￿1VITIEs Salaries and wages Equipment Milk and catering Childrens activities Depreciation Support costs 153.237 15.398 675 168.635 675 297 172,036 2,023 541 3.562 10.251 30,522 297 574 40.396 10.060 40.396 195,188 25.559 220,746 218,934 NOTE4 GOVERNANCE COSTS Audit costs Insurance 420 420 3fXJ 1.956 2.326 2.326 2.256 INDEPENDENT EXAMINERS REPORT ON THE ACCOUPItS OF BURWELL EARLY LEARNERS registered charity 1192333 YEAR ENDED 31 AUGUST 202Z The trustees of Burwell Early Learners are responsible for the prepafation of the accounts. and consider that an audit is not required for this year under Section 144 of the Charrties Att 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to - exarnine the accounts under Section 145 of the Charrties Art. - to follow the procedures laid dovm in the General Directions given by the Charity Commission (under Section 145[SllbJ of the Act. and - to state whether particular matters have come to my attention. 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 indudes consideration of any unusual items of disclosure inthe accounts. and seeking explanation from you as trustees concerning 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 'true and fair, View and the report is limited to those matters set out in the statement below. In the course of my examination, no matter ha5 come to my attention 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 Chartties Act. and prepafe accounts which accord with the accounting records and comply with the accounting requirernents of the Charities Act have not been met or in my opinion attention should be drawn to enable a proper understsnding of the accounts to be reached. Hunters Accountancy Services 2 The Leys Burwell Cambridgeshire CB25 ODZ Date: 7 December 2022