REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE PERIOD 01.04.2022-31.08.2023
FOR
TISBURY PRE-SCHOOL CIO
TISBURY PRE-SCHOOL CIO CONTENTS OF THE FINANCIAL STATEMENTS for the period 01.04.2022-31.08.2023
| Page | |
|---|---|
| Charity Information | 1 |
| Report of the Trustees | 2 |
| Report of the Independent Examiner | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 |
TISBURY PRE-SCHOOL CIO
CONTENTS OF THE FINANCIAL STATEMENTS for the period 01.04.2022-31.08.2023
TRUSTEES: Joanne Hamilton (Chair) Sarah Nicholls (Chair) Carol Wootton (Chair from February 2023) Rebecca Murray (Treasurer and Secretary) Amanda Burford Paula Elizabeth Balogun Elizabeth Jones Amy Sutcliffe Emily Finn CHARITY OFFICES: The Nadder Centre Weaveland Road Tisbury Salisbury SP3 6HJ CHARITY NUMBER: 1193632 INDEPENDENT EXAMINER: EP Services Ltd t/a EP Tax 2D-2E Fitz Gilbert Court Castledown Business Park Ludgershall Wiltshire SP11 9FA
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TISBURY PRE-SCHOOL CIO
CONTENTS OF THE FINANCIAL STATEMENTS for the period 01.04.2022-31.08.2023
INTRODUCTION
CHAIRPERSON’S REPORT
We had a good year with the number of children attending increasing throughout the year. Our Finance and Admin Manager, Debra Simpson joined us in December 2022. In addition, we have appointed a new Deputy Play Leader, Amy Ingram, who starts in September following Lisa Dunville’s resignation.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution, Objects and Policies
This organisation is a Charitable Incorporated Organisation (CIO). The Board of Trustees is made up of parents of children attending the setting and two co-opted trustees.
The charity works for the public benefit having as its objects 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.
Trustee Induction and Training
New trustees are provided with: the NCVO Good Trustee Guide, the Charity’s Charter, Minutes of the last Trustees meeting, latest accounts, risk assessments, forecast of finances throughout the year and the business plan. The Chair of Trustees and the manager of the setting both invite the new Trustee to meet them for an induction.
Risk Management
The Management Committee has conducted a review of the major risks to which the charity is exposed. The major risks to the charity are risk of loss of facilities, income changes due to fluctuation in numbers on role and inflationary effects on expenditure. The setting must keep in line with wage increases such as the National minimum wage and National living wage. Given the rural nature of the charity’s location there is also a risk that we cannot employ sufficient qualified staff to meet required ratios.
ACHIEVEMENTS AND PERFORMANCE
- We have continued to provide high quality childcare for 2-5 year olds in the community. 2. We have been able to meet our costs.
Public benefit
The trustees have given due regard to the Charity Commission’s guidance on reporting public benefit when planning the charity’s activities, in accordance with sections G2 and G3 of the Charity Commission’s General Guidance on Public Benefit (January 2008).
Our charitable activity is the provision of childcare for children aged 2-5 years in the community and we follow EYFS guidance.
FINANCIAL REVIEW
The pre-school is run on a non-profit-making self-financing basis.
88% of the nursery income comes from Wiltshire County Council for the provision of free entitlement and inclusion funding. The second largest source of income was from parents/carers to cover fees, school trips and uniform.
As the nursery benefits from relatively low overheads, the largest day-to-day expense to the nursery is staff payroll costs.
The Charity bank accounts were maintained by the preschool administrator, overseen by the Trustees and the
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TISBURY PRE-SCHOOL CIO
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF TISBURY PRE-SCHOOL
I have examined the financial statements of TISBURY PRE-SCHOOL CIO for the period 01.04.2022-31.08.2023 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under
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section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with 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 the 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:
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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
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Tarlia Knight EP Services Ltd t/a EP Tax 2D-2E Fitz Gilbert Court Castledown Business Park Ludgershall Wiltshire SP11 9FA
Dated: …………………………………………
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TISBURY PRE-SCHOOL CIO
STATEMENT OF FINANCIAL ACTIVITIES for the period 01.04.2022-31.08.2023
| Notes INCOME & EXPENDITURE INCOMING RESOURCES Incoming resources from generated funds: Voluntary income Grants and donations Activities for generating funds Fundraising Incoming resources from charitable Activities: Attendance fees 2 Sundry income Other incoming resources (incl. Fundraising Total incoming resources RESOURCES EXPENDED Charitable activities Operating costs 3 Governance costs 4 Total resources expended NET INCOMING/(OUTGOING) RESOURCES Total funds brought forward at 31.03.2022 TOTAL FUNDS CARRIED FORWARD AT 31.08.2023 |
01.04.2022 – 31.08.2023 £ Unrestricted £ Restricted £ Total - - - - - - 98,251 - 98,251 754 - 754 1,562 1,562 100,567 100,567 119,038 119,038 1,530 1,530 120,568 120,568 (20,001) (20,001) 62,052 357 62,409 42,051 357 42,408 |
01.04.2022 – 31.08.2023 £ Unrestricted £ Restricted £ Total - - - - - - 98,251 - 98,251 754 - 754 1,562 1,562 100,567 100,567 119,038 119,038 1,530 1,530 120,568 120,568 (20,001) (20,001) 62,052 357 62,409 42,051 357 42,408 |
31.03.2022 |
|---|---|---|---|
| £ Unrestricted - - 98,251 754 1,562 100,567 119,038 1,530 120,568 (20,001) 62,052 42,051 |
£ Restricted - - - - 357 357 |
£ Total - - 13,738 18 |
|
| 13,756 | |||
| 16,233 1,128 |
|||
| 17,361 | |||
| (3,605) 66,014 |
|||
| 62,409 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
The notes form part of these financial statements
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TISBURY PRE-SCHOOL CIO
NOTES TO THE FINANCIAL STATEMENTS for the period 01.04.2022-31.08.2023
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the Charities Act 2011 on the historical cost convention, except investment assets that are carried at market value. The financial statements are prepared in accordance with applicable accounting standards and the Statement of Recommended Practice on Accounting and Reporting by Charities: Charities SORP 2016 FRS102.
The Charity has taken advantage of the exemption in Financial Reporting Standard 1 from the requirement to produce a Cashflow Statement on the grounds that it qualifies as a small charity.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Incoming resources
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Such income is only deferred when the donor specifies that the grant or donation must only be used in future accounting periods or when the donor has imposed conditions which must be met before the charity has unconditional entitlement. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received.
Gifts in kind donated for distribution are included at valuation and recognized as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can be quantified, and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
Tangible fixed assets
Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low value with a short life. Repair, renovation, and replacement expenditure is written off as expenditure in the Statement of Financial Activities. The cost of fixed assets is their purchase cost, together with any incidental costs of acquisition. Expenditure incurred on play equipment is treated as a revenue expense as although some of the equipment may be of a higher value it has a short life due to the extensive use that it receives from the children.
Income and funds policy
Voluntary income and donations are accounted for as received by the Charity.
Value added tax
Value added tax is not recoverable by the Charity, and as such is included in the relevant costs in the Statement of Financial Activities.
Governance costs
Governance costs include all expenditure which is not directly related to the charitable activity. This includes accountancy fees and trustees meeting expenses.
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TISBURY PRE-SCHOOL CIO
NOTES TO THE FINANCIAL STATEMENTS for the period 01.04.2022-31.08.2023
.
ACCOUNTING POLICIES continued
2. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
| Attendance Fees Wiltshire County Council |
Unrestricted 01.04.2022 – 31.08.2023 £ £ 9,517 - 88,734 - 98,251 - |
Restricted £ 9,517 88,734 98,251 |
31.03.2022 £ 1,695 12,043 |
|---|---|---|---|
| 13,738 |
3. ANALYSIS OF TOTAL RESOURCES EXPENDED
| Staff Wages + Pension 5 Staff Training and welfare Equipment Rent and Rates + Premises Consultancy, memberships and subs Insurance Advertising Consumables Telephone & Broadband Printing, Postage & Stationary Website and IT Sundry/Miscellaneous Cleaning Depreciation Travel 4.GOVERNANCE COSTS This is stated after charging: Accountancy Fees |
01.04.2022 – 31.08.2023 Cost £ 100,337 1,954 901 4,825 316 798 380 2,212 1,269 180 905 687 471 3,580 223 119,038 01.04.2022 – 31.08.2023 £ 1,530 |
31.03.2022 Cost £ 12,376 723 275 1,544 - - - 203 241 37 - 25 809 16,233 31.03.2022 £ 595 |
|---|---|---|
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TISBURY PRE-SCHOOL CIO
NOTES TO THE FINANCIAL STATEMENTS for the period 01.04.2022-31.08.2023
5. STAFF COSTS
Any remuneration or reimbursed expenses paid to Trustees, or persons closely connected with them, in the period have been checked. No employee received a salary in excess of £60,000 in the current or previous years.
6. FIXED ASSETS
| Cost/Value At 10 January 2022 Additions Disposals At 31st March 2022 Depreciation At 10 January 2022 Charge for year Disposals At 31st March 2022 Net Book Value At 10 January 2022 At 31st March 2022 |
Equipment 22,599 - - |
|---|---|
| 22,599 16,146 3,580 |
|
| 19,726 6,453 |
|
| 2,873 |
Depreciation is charged in the accounts at 25% on cost for Equipment purchased and charges at 20% on cost for Website Development.
7. DEBTORS: AMOUNTS DUE WITHIN ONE YEAR
| PAYE and National Insurance Wages Payable |
01.04.2022 – 31.08.2023 £ - 190 190 |
31.03.2022 £ 115 |
|---|---|---|
| 115 |
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| PAYE and national insurance Pension Contributions Net Wages Other creditors and accruals Accruals |
01.04.2022 – 31.08.2023 £ - 169 - - 1,530 1,530 1,699 |
31.03.2022 £ - - - - 1,530 |
|---|---|---|
| 1,530 | ||
| 1,503 |
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TISBURY PRE-SCHOOL CIO CONFENTS OF THE FINANCIAL STATEMEpirs for the perlod OIA14.2022.31.08.2023 Charity Accountants IEP Tax). At the end of the year the total Charlty bank balance was £40.9)7. The balan of Petty Cash was £137. At the end of the year there was a discrepancy with the wages payable balance due to over and underpayments to employees totallin8 £190, thi5 is currently being investigated and will be corrected in the next set of accounts. Reserves Pollcv The Charlty reserves policy Is to hold in reserves three months operating costs. These reserves are requlred In case of redundancy. è location move or other unforeseen ¢Ircumstan. Responslbllltles of the Trustees Law appllcable to charltle5 In England and Wales requlres the trustees to prepare financlal statements for each financlal year whlch 8lve a true and falr vlew of the CharItS flnanclal actlvltles durlng the year and of its financlal POSitlon at the end of the year. In preparln8 those financial statements. the trustees are required to. seled sult3ble accountlng pollcles and then apply them conslstently,. make ludgemenrs and estlmates that are reasonable and prudent,. state whether appllcable accounting siandards and statements of recommended practlce have been followed sublect to any departures disclosed and explained in the flnancial statements,. and prepare the financial stalements on the golng concern basls unless It15 Inappropriate to presume that the Charlty wlll continue in bu5ine55. The Trustees are responsible for keeping proper accounting records which disclose wlth reasonable accuracy at any time the financlal posltlon of the Charlty and to enable ihem to ensure that the financial statements complv wlth appllcable law and regulations. They are also responsible for safeguardin8 the a55ets of the Charity and hence for takinB reasonable steps for the prevention and detection of fraud and other irre8ularlties. ON BEHALF OF TrIE TRUSTEES.. 4 6LLW ad TRUSTEE - TRUSTEE Dated..
TISBURY PRE.SCHOOLCIO STATEMENT OF FINANCIAL AcrivlEs for the perlod 01.04.2022-31.08.2023 8ALANCE SHEET OIA)4.2022-31.08.2023 01.04.2022- 31.08.2023 31.03.2022 Notes FIXED ASSETS: Equipment 2.873 6,4S3 CURRENT ASSErs: Debtors Cash at bank and in hand 190 41,044 115 57.371 CREDITOftS: Amounts falllng due wlthin one year 11,&J91 11.5301 NET CURRENT ASSETS.. 39,S35 55,956 TOTAL ASSETS LESS CURRENT LIABILITIES: 42,408 62,409 FUNDS.. Unrestricted funds: 8eneral reserve Restrlrted funds 42.408 62.409 42.40B 62,409 ON 8EHALF OF THE TRUSTEES: TRUSTEE A 6LLkkd CIL 2cJLf TRUSTEE Dated.. The notes form part of these financial statements