## BURWELL EARLY LEARNERS CIO ## FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2023 Registered Charity Number 1192333 **BURWELL EARLY LEARNERS CIO Trustees Annual Report Year Ended 31 August 2023** ## **MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS** **REGISTERED CHARITY NAME: CHARITY NUMBER:** **Burwell Early Learners CIO 1192333** ## **TRUSTEES as of 31 August 2023:** 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 2023** The trustees have pleasure in presenting their report and the financial statements of the charity for the year ended 31 August 2023. ## **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 2023** 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 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 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. ## **Employment of disabled persons** Burwell Early Learners is an equal opportunities employer. **BURWELL EARLY LEARNERS CIO Trustees Annual Report Year Ended 31 August 2023** ## **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 a loss on net incoming resources for the year of a revenue nature of £11,109. The total reserves at the year-end stand at £351,461. 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 facilities to ensure BEL CIO remains an excellent pre-school setting ## **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 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. **BURWELL EARLY LEARNERS CIO Trustees Annual Report** ## **Year Ended 31 August 2023** 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] November 2023 BURWELL EARLY LEARNERS REGISTERED CHARITY NUMBER 1192333 Page I ATEMENT OF FINANCIAL AcnvmES FOR THE YEAR ENDED 31 AUGUST 2023 Unrestrirted funds 2023 Restricted funds 2023 Totsl funds 2023 Totsl funds 2022 INCOMING RESOURCES INCOMING RESOURCES Incoming resour￿$ from EeneratinB funds Voluntary income Fundraising income Investrnent incorne 4.377 2.296 216 15.361 19,738 2.296 216 20.899 1.620 Other incoming resources Incoming resources from charitsble artivities. fees 182.341 182.341 210.552 189.230 15.361 204.591 233.151 RESOURCES EXPENDED Governance Charitable activities 1.757 189.096 1.757 213,942 2.326 220.746 24,847 19),853 24.847 215.7(Kl 223.072 INCOMING RESOUR 11.623) 19A86) 111.109) 10.079 Unrestricted Restricted Totsl Total funds brought forward Total funds carried forward 98.060 96.437 264,510 255,024 362,570 351.461 These financial statements for the year ended 31st A￿uSt 2023 were approved by the trustees of Burwell Earty Learne￿ at a meeting dated 6 November 2023 nd are signed on their behalf by Alexandra de Giorgitrmiller 4J(jlLb ltsf OLthJTr)zS BURWELL EARLY LEARNERS REG15fERED CHARITY NUM8ER 1192333 Page 2 BALANCE SHEET AS AT 31 AUGUST 2023 2023 2022 Assets Fixed assets Debtors Prepayments Cash at bank and in hand 287.2S6 297.172 339 84.101 85.716 371.696 382.889 Liabilities Creditors 120.235) 120.3191 351.461 362.570 Re resented B Restricted income funds Unrestricted income funds 255.024 96.437 264.510 351,461 362.570 BURWELL EARLY LEARNERS REGisfERED CHARITY NUMBER 1192333 Page 3 DEPRECIAnoN COmP￿ATION FOR THE YEAR ENDED 31 AUGUST 2023 Fixed Asset Summ Freehold Pro Total At Cost Balance B/Fwd Additions Eliminated on Disposals 474.293 37.249 511.542 474293 37249 511y2 reciation Balance B/Fwd Charge for period Eliminated on Disposals 178.842 35.528 430 214.369 9,916 Balance CIFwd 188.328 124.285 M8v @ 3VO812023 1391 287256 NBV @ 0110912022 295.451 1.721 297.172 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 REGisfERED CHARrrY NUMBER 1192333 Page I NOTES TO THE Accoupifs FOR THE YEAR ENDED 31 AUGUST 2023 Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Total funds 2022 NOTE I INCOMING RESOURCES FROM VOLUNTARY INCOME Donations 4.377 4.377 4.826 Grants Furlough payments Child Support 15.361 15.361 16.073 4.377 15.361 19.738 20.899 NOTE 2 OTHER INCOMING RESOURCES Unifomi charges Training Coufses MI￿1￿aneOuS receipts NOTE 3 COSTS OF CHARITABLE AcfiviTIES Salaries and wages Equipment Milk and catering Childrens activities Depreciation Support costs 149.146 11.603 3.757 160,749 3.757 87 3,638 9,916 35,794 168.635 675 297 87 3.638 430 9.486 10.060 40.396 35.794 189.096 24,847 213.942 220.746 NOTE 4 GOVERNANCE COSTS Audit costs Insurance 420 1.757 1.757 1.757 1.757 2,326 INDEPENDENT EXAMTr4EILS REIIORT OM THE ACCOUIITS OF BURWELL EARLY LEARNERS registered charity 1192333 YEAR EP4DE0 31 AUGLIST 20Z3 The trustees of Burwell Earfy Learners are responsible for the preparation of the accounts. and 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 SertiQD 145 of the Charities Art. - to follow the procedures laid down in the General Dirertions given by the Charity Commission (under Section 14515llbJ of the A¢ and - to state whether partitulaf matters have come to my attention. My examination was carried out in accordance with the General Directions given by the Charrty Comrnission. An examination intludes a review of the 3ccountin8 records kept by the charity and a comparison of the accounts presente(I 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 eviden￿ 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 lirntted to those matters set out in the statement below. In the course of my examination. no matter has come to rny attention whith gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance WFth Section 130 of the Charities ACL and prepare accounts which accord wtth the ccounting records and compty with the accounting requirements of the CharTties Art have not been met or in my opinion attention should be drawn to enable a proper understsnding of the accounts to be reached. Hunters Attountanry Services 2 The Ley5 Burwell Cambridgeshire CB25 ODZ Date: 26 September 2023