## BURWELL EARLY LEARNERS CIO ## FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 Registered Charity Number 1192333 **BURWELL EARLY LEARNERS CIO Trustees Annual Report Year Ended 31 August 2024** ## **MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS** **REGISTERED CHARITY NAME: CHARITY NUMBER:** **Burwell Early Learners CIO 1192333** ## **TRUSTEES as of 31 August 2024:** Elizabeth Swift Cara Bootman (Maltpress) Alexandra de Giorgio-Miller Jessica Marshall Kelly Conlin ## **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 2024** The trustees have pleasure in presenting their report and the financial statements of the charity for the year ended 31 August 2024. ## **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 Jessica Marshall Kelly Conlin ## **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 ## **BURWELL EARLY LEARNERS CIO Trustees Annual Report Year Ended 31 August 2024** - Secretary - Treasurer 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. **BURWELL EARLY LEARNERS CIO Trustees Annual Report Year Ended 31 August 2024** ## **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 £59,944. The total reserves at the year-end stand at £411,405. 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: - 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 **BURWELL EARLY LEARNERS CIO Trustees Annual Report Year Ended 31 August 2024** 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] November 2024 INDEPENOENf EXAMINEIIS REPORT ON THE ACCOUPItS OF BURWELL EAPIY LEARNERS registered charity 1192333 YEAR ENDED 31 Al￿V5[ 2024 The trustees of Bun¥ell Earfy Learner5 are reS￿nsIble forthe preparatton of the acwurrt5. and considerthat an audit is not required forthi5 year under section 144 of the Charities Act 2011 Ithe Charities P£tl and that an irKleperthrt examination 15 needed. It 15 my reS￿nsIbIlity to - examine the accounts under Section 145 of the Charities Act. - to follow the proCedU￿S laid down in the General ￿"rectionS given ty the Charity Commission {under Section 14515}IbJ of the ACL aTh - to state whether particular matter5 have come to my atteFrtion. My examination was carried in acc￿th￿e with General Oirertions given bythe Chartty Commission. An examination irKI￿leS a reNYew of the accounti￿ records kept by the chanty and a comparison of the accounts p￿seTrted w4tth tIM)5e records. It also irKlude5 consideration of anv unusual items of di5c105ure inthe xcounts. and seeking explanation from you a5 tru5tee5 concerning such matters. The procedures undertaken do not prwde all the e4idence that would be required in an audii and consequently no opinion 15 given as to whether the accounts prÈsÈnt tmt and faiv view a￿1 the repryt is limried to those matters set out in the 5tztement below. In the course of my examin*b)n. Th) matter has come to my attention t•thich gNes mè reasonable Cause to belteve that in ar)y material reSi￿rt the requirements to keep accounting records in accordance with Section 130 of the Chafities ACL and prepare accourts which accord with the accounting reconts and cornp￿ with the accountiry ￿UIreMentS of the Charttie5 have not been met or in my opinion attertion should be drawn to enable a proper understandi￿& of the accounts to be reached. Hunters Accountanoi 5er¥iet5 2 The Leys Burwell Cambridgeshire C825 c￿>1 Oate: 20 September 2024 BURWELL EARLY LEARNEI REGlStERED cHAJI￿y NUM8ER 1192333 Page I STATEME￿ OF FINANCiAL ACTiVr￿S FOR THE YEAR ENOED 31 AUGU5t2024 Unrestrirted Restricted furlds funds 2024 2024 Total funds 2024 Totsl funds 2023 INC(Y•llNG RESOURCES INCOMING RE50URCE5 Incoming resources from ge￿ratingfUnds Voluntary income Fundra￿1￿ intomÈ Investment income 627 3A56 659 20.438 21.065 3.856 659 19.738 2.296 216 Ot￿r inwrnin8 resources IncominE resources from charitable actNltie5, fee5 262.474 262.474 182,341 267.614 20.438 288.053 204591 RESOUR￿5 EXPENDED Governance Charitable activities 2.271 197.350 2.271 225.837 1.757 213.942 28.487 199.621 28.487 228.108 215.7rA) NET INCOMING RESOURCES 67.993 18A1191 59,944 (11.1091 Unrestricted Resiricted Total Totsl funds brought forvrard Totsl funds carried forward 96.437 164.431 255.024 246.975 351.461 411.405 These financial statements forthe year er￿ed 31st A￿￿5t 2024 were approved by the tn￿tee5 of Burwell Early Leèmets at a meetir¥ dated 13 November 2024 and a￿ signed on their behalf by ￿exandra de G40rRio-Miller 13 ￿0vIolI1 BURWELL EARLY LEARNEI REGlStERED CHARtVY NUMBER 1192333 Page 2 BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 ￿￿et5 Fixed assets Debtors P￿payments Cash at bank and in hand 277.967 287256 339 84,101 132.159 411.405 371.696 Liabilities Creditors (20,2351 411,405 351.461 Re resented Restrirted income funds Unrestricted inco￿* funds 246.975 164.431 255.024 96.437 411.405 351A61 BURWELL EARLY LEARNERS REG15TERED CHARtYY NUMBER 1192333 Page 3 DEPREaATION COMPUTATION FOR YEAR ENDED 31 AUGUST 2024 Fiied Asset S•m Freelmjld Total At Cost Balance Bfrwd Additions Eliminated on Dis￿)$al5 474.293 37.249 692 511.542 692 474293 37941 reoation Balance B/Fwd Charge for period Eliminated on t*sposals 188,328 9.486 35.958 4% 224.285 9.982 197JU NBv8 31IW1024 177.967 NBV @ OV(P312023 285.965 1.291 287.256 Depreciation 15 cakulated so asto write off a>5t of an asset kn its estimated residual value overthe useful etommK lrfe of the a55et as follows: Freehold ProFerty Equipment rA Str3iuht Line 25% Reduciry Balan BURWELL EARLY iEARNERS REGIStERED C114RITY NUMBER 1192333 Page I NOTE5 TO THE Accoupifs FOR THE YEAR ENDED 31 AUGUST 2024 un￿St￿ted RestrKted fvnds funds 2024 2024 Total fvnds 2024 Total funds 2023 NOTE I INCOMING RESOURCES FROM VOLuNfARY INCOME Donations 627 627 4,377 Grants Cctop Grant Child Support 1.437 19.IWJI 1.437 19.(Kll 15.361 627 20,438 IL￿5 19.738 NOTE 2 OTHER INCOMING RESOURCES Unrform charge5 TraininE courses Miscellaneous receipts NOTE 3 COST5 OF CHARtrABLE A￿mTIEs Salarie5 arKI wazes Equipment Milk and catering Ch41drens activities Depreaation Supp)rt costs 156.487 .441 3.561 171.928 3.561 160.749 3.757 87 1.268 4% 39.IfA) 1.268 9.982 39.1(￿} 3.638 9.916 35.794 197.350 28,487 225.837 213.942 GOVERNANCE COSTS Audit costs Insurance 175 175 1.757 271 2.271 1.757 INDEPENOENf EXAMINEIIS REPORT ON THE ACCOUPItS OF BURWELL EAPIY LEARNERS registered charity 1192333 YEAR ENDED 31 Al￿V5[ 2024 The trustees of Bun¥ell Earfy Learner5 are reS￿nsIble forthe preparatton of the acwurrt5. and considerthat an audit is not required forthi5 year under section 144 of the Charities Act 2011 Ithe Charities P£tl and that an irKleperthrt examination 15 needed. It 15 my reS￿nsIbIlity to - examine the accounts under Section 145 of the Charities Act. - to follow the proCedU￿S laid down in the General ￿"rectionS given ty the Charity Commission {under Section 14515}IbJ of the ACL aTh - to state whether particular matter5 have come to my atteFrtion. My examination was carried in acc￿th￿e with General Oirertions given bythe Chartty Commission. An examination irKI￿leS a reNYew of the accounti￿ records kept by the chanty and a comparison of the accounts p￿seTrted w4tth tIM)5e records. It also irKlude5 consideration of anv unusual items of di5c105ure inthe xcounts. and seeking explanation from you a5 tru5tee5 concerning such matters. The procedures undertaken do not prwde all the e4idence that would be required in an audii and consequently no opinion 15 given as to whether the accounts prÈsÈnt tmt and faiv view a￿1 the repryt is limried to those matters set out in the 5tztement below. In the course of my examin*b)n. Th) matter has come to my attention t•thich gNes mè reasonable Cause to belteve that in ar)y material reSi￿rt the requirements to keep accounting records in accordance with Section 130 of the Chafities ACL and prepare accourts which accord with the accounting reconts and cornp￿ with the accountiry ￿UIreMentS of the Charttie5 have not been met or in my opinion attertion should be drawn to enable a proper understandi￿& of the accounts to be reached. Hunters Accountanoi 5er¥iet5 2 The Leys Burwell Cambridgeshire C825 c￿>1 Oate: 20 September 2024