Charity registration number: 1195333
## Mini Cowpers Pre-School Group CIO
Annual Report and Financial Statements for the Year Ended 31 August 2023
## **Mini Cowpers Pre-School Group CIO**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8 to 13|
## **Mini Cowpers Pre-School Group CIO**
## **Reference and Administrative Details**
**Trustees** Ms Katie-Leigh Eyre Nicola Louise Martin Nicola Michelle Mainwaring Ms Ruth Helen McDonald **Principal Office** Birch Geen Hertford Hertfordshire SG14 2LR **Charity Registration Number** 1195333 **Independent Examiner** RS Partnership Ltd Chartered Certified Accountants 10 Prospect Place Welwyn Hertfordshire AL6 9EN
Page 1
## **Mini Cowpers Pre-School Group CIO**
## **Trustees' Report**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 August 2023.
This was the first trading period for the charity, following the filing of dormant accounts for the year ended 31 August 2022. These accounts follow the transition to being an incorporated charity from Mini Cowpers Pre-School Group (Charity registration number: 1130246) to the named entity, recognised on 19 December 2022 by the Charities Commission. The full trading year is displayed in these accounts, with the comparative balances being the 2022 year end figures from the unincorporated charity.
## **Objectives and activities**
## _**Objects and aims**_
The aims of the pre school are to enhance the development and education of children primarily under statutory school age. Providing an enabling and caring environment with a variety of play and learning opportunities, using the EYFS framework.
## _**Objectives, strategies and activities**_
This year numbers have been healthy and continued to increase each term. We are currently recruiting more staff for Summer term as this is our busiest time of year. New funding available to children aged 2 and above is the main factor, which is great outcome for parents and Mini Cowpers. We have big waiting lists already for the new academic year.
The children have benefitted from new equipment at preschool, they are enjoying their new outside climbing equipment and wooden playhouse. As the children love being creative, we also purchased an outside easel.
Our Fundraising committee have been busy organising new fun events with our children and families. Our most popular event was our Easter Extravaganza in the village park for all children and families to attend. At Christmas we held a stay and play for all parents/carers where we draw our raffle and sold refreshments.
## _**Public benefit**_
We welcome all young children regardless of personal background, faith, gender or personal circumstances and we believe this develops social awareness and their confidence and life skills. We continue to provide the funded 15 & 30 hours for 3 to 4 year olds, and now with the governors addition 2 year old funding.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Financial review**
## _**Policy on reserves**_
Our aim is to retain sufficient funds to pay any redundancies and liabilities at all times. We also ensure there is liability insurance that protects committee members from personal liability.
## _**Funds in deficit**_
We do not have any funds in defecit.
Page 2
## **Mini Cowpers Pre-School Group CIO**
## **Trustees' Report**
## **Structure, governance and management**
## _**Nature of governing document**_
The Chartiy is constituted as a Charitable Incorporated Organisation (CIO) Foundation, as a corporate body under Part 11 of the Charities Act 2011 on the 28th July 2021.
The Trustees are Legally responsible for the governance and management of the charity. Trustees are responsible of setting strategies and policies for ensuring these are implemented.
## _**Recruitment and appointment of trustees**_
Trustees are appointed or reappointed annually at the annual general meeting held in July.
## _**Organisational structure**_
Association consisting of three or four managing trustees and parents of the pre school attendees.
## _**Major risks and management of those risks**_
## _Rising costs_
With ever increasing utility bills at the premises, we are hoping that our hire charge will not increase. This is something we are preparing for by making sure that we are at maximum capacity everyday and using staff when and where needed. Fortunately, the demand is continuing to grow with waiting lists higher than normal and a consistent flow of enquiries.
## **Financial instruments**
## _**Objectives and policies**_
The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
Page 3
## **Mini Cowpers Pre-School Group CIO**
## **Trustees' Report**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources 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;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. 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.
The annual report was approved by the trustees of the charity on 3 April 2024 and signed on its behalf by:
......................................... Ms Katie-Leigh Eyre Trustee
Page 4
## **Mini Cowpers Pre-School Group CIO**
## **Independent Examiner's Report to the trustees of Mini Cowpers Pre-School Group CIO**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2023 which are set out on pages 6 to 13.
## **Respective responsibilities of trustees and examiner**
As the charity’s trustees of Mini Cowpers Pre-School Group 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 Mini Cowpers Pre-School Group CIO's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed 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:
1. accounting records were not kept in respect of Mini Cowpers Pre-School Group CIO as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting 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.
...................................... Chris Drinkwater Chartered Certified Accountants FCCA
10 Prospect Place Welwyn Hertfordshire AL6 9EN
3 April 2024
Page 5
## **Mini Cowpers Pre-School Group CIO**
## **Statement of Financial Activities for the Year Ended 31 August 2023**
|**Note**
**Income and Endowments from:**
Charitable activities
Other trading activities
Total income
**Expenditure on:**
Charitable activities
Total expenditure
Net expenditure
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
13
**Note**
**Income and Endowments from:**
Charitable activities
Other trading activities
Total income
**Expenditure on:**
Charitable activities
Total expenditure
Net income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
13|**Unrestricted**
**funds**
**£**
99,963
450
100,413
(101,199)
(101,199)
(786)
(786)
57,914
57,128
**Unrestricted**
**funds**
**£**
99,976
1,028
101,004
(95,215)
(95,215)
5,789
5,789
52,125
57,914|**Total**
**31 August**
**2023**
**£**
99,963
450|
|---|---|---|
|||100,413|
|||(101,199)|
|||(101,199)|
|||(786)|
|||(786)
57,914|
|||57,128|
|||**Total**
**31 August**
**2022**
**£**
99,976
1,028|
|||101,004|
|||(95,215)|
|||(95,215)|
|||5,789|
|||5,789
52,125|
|||57,914|
All of the charity's activities derive from continuing operations during the above two periods.
Page 6
## **Mini Cowpers Pre-School Group CIO**
## **(Registration number: 1195333) Balance Sheet as at 31 August 2023**
|**Note**
**Fixed assets**
Tangible assets
8
**Current assets**
Debtors
9
Cash at bank and in hand
10
**Creditors: Amounts falling due within one year**
11
**Net current assets**
**Net assets**
**Funds of the charity:**
**Unrestricted income funds**
Unrestricted funds
Other reserves
Total unrestricted funds
**Total funds**
13|**31 August**
**2023**
**£**
6,364
-
52,344
52,344
(1,580)
50,764
57,128
(786)
57,914
57,128
57,128|**31 August**
**2022**
**£**
8,456
43
48,677|
|---|---|---|
|||48,720
738|
|||49,458|
|||57,914|
|||5,789
52,125|
|||57,914|
|||57,914|
The financial statements on pages 6 to 13 were approved by the trustees, and authorised for issue on 3 April 2024 and signed on their behalf by:
.........................................
Ms Katie-Leigh Eyre Trustee
Page 7
## **Mini Cowpers Pre-School Group CIO**
## **Notes to the Financial Statements for the Year Ended 31 August 2023**
## **1 Accounting policies**
## **Statement of compliance**
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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
Mini Cowpers Pre-School Group CIO meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Exemption from preparing a cash flow statement**
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Income and endowments**
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
Page 8
## **Mini Cowpers Pre-School Group CIO**
## **Notes to the Financial Statements for the Year Ended 31 August 2023**
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
**Asset class Depreciation method and rate** Fixtures & Fittings 20% Straight Line Computer Equipment 25% Reducing Balance
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
## **Pensions and other post retirement obligations**
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Page 9
## **Mini Cowpers Pre-School Group CIO**
## **Notes to the Financial Statements for the Year Ended 31 August 2023**
## **2 Income from charitable activities**
|UK Government Grants
Fees
Interest on cash deposits|**Unrestricted**
**funds**
**General**
**£**
42,100
57,718
145
99,963|**Total**
**31 August 2023**
**£**
42,100
57,718
145|
|---|---|---|
|||99,963|
## **3 Income from other trading activities**
|Local fundraising and street collection income
**4**
**Expenditure on charitable activities**
Staff costs
Allocated support costs
Depreciation, amortisation and other similar costs
Expenditure on charitable activties|**Unrestricted**
**funds**
**General**
**£**
450
450|**Total**
**31 August 2023**
**£**
450
450
**Unrestricted**
**funds**
**General**
**£**
64,158
982
2,772
29,807
97,719|**Total**
**28 July 2021 to**
**31 August 2022**
**£**
1,028|
|---|---|---|---|
||||1,028|
||||**Total**
**31 August 2023**
**£**
64,158
982
2,772
29,807|
||||97,719|
Page 10
## **Mini Cowpers Pre-School Group CIO**
## **Notes to the Financial Statements for the Year Ended 31 August 2023**
## **5 Analysis of governance and support costs**
## **Governance costs**
|Accountancy fees
Other fees paid to auditors
Other governance costs|**Unrestricted**
**funds**
**General**
**£**
3,480
-
3,480|**Total**
**31 August 2023**
**£**
3,480
-
3,480|**Total**
**28 July 2021 to**
**31 August 2022**
**£**
3,041
5|
|---|---|---|---|
||||3,046|
## **6 Trustees remuneration and expenses**
During the year the charity made the following transactions with trustees:
## **Nicola Louise Martin**
Nicola Louise Martin received remuneration of £16,714 (2022: £9,050) during the year.
Page 11
## **Mini Cowpers Pre-School Group CIO**
## **Notes to the Financial Statements for the Year Ended 31 August 2023**
## **7 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **8 Tangible fixed assets**
|**8**
**Tangible fixed assets**|||
|---|---|---|
|**Cost**
At 1 September 2022
Additions
At 31 August 2023
**Depreciation**
At 1 September 2022
Charge for the year
At 31 August 2023
**Net book value**
At 31 August 2023
At 31 August 2022
**9**
**Debtors**
Trade debtors
**10 Cash and cash equivalents**
Cash at bank
**11 Creditors: amounts falling due within one year**
Other taxation and social security
Other creditors
Accruals|**Furniture and**
**equipment**
**£**
**Computer**
**equipment**
**£**
**Total**
**£**
13,010
-
13,010
-
680
680
13,010
680
13,690
4,554
-
4,554
2,602
170
2,772
7,156
170
7,326
5,854
510
6,364
8,456
-
8,456
**31 August 2023**
**£**
**31 August 2022**
**£**
-
43
**31 August 2023**
**£**
**31 August 2022**
**£**
52,344
48,677
**31 August 2023**
**£**
**31 August 2022**
**£**
-
(2,347)
-
816
1,580
793
1,580
(738)||
||||
|||**31 August 2022**
**£**
48,677|
|||**31 August 2022**
**£**
(2,347)
816
793|
|||(738)|
Page 12
## **Mini Cowpers Pre-School Group CIO**
## **Notes to the Financial Statements for the Year Ended 31 August 2023**
## **12 Pension and other schemes**
## **Defined contribution pension scheme**
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £915 (2022 - £865).
## **13 Funds**
|**13 Funds**||||
|---|---|---|---|
|**Unrestricted funds**
General
**Unrestricted funds**
General|**Balance at 1**
**September**
**2022**
**£**
57,914
**Balance at 28**
**July 2021**
**£**
52,125|**Incoming**
**resources**
**£**
(786)
**Incoming**
**resources**
**£**
5,789|**Balance at 31**
**August 2023**
**£**
57,128|
||||**Balance at 31**
**August 2022**
**£**
57,914|
On 19 December 2022, the charity transferred its operations to the Charitable Incorporated Organisation (CIO) from the unincorporated charity named Mini Cowpers Pre-School Group (Chairty registration number: 1130246) as part of a planned re-organisation and restructure.
The charity obtained prior approval from the Charities Commission as part of this transfer and once approval was received, the charity proceeded to transfer its closing funds as of 19 December 2022 to the CIO.
The full academic year to 31 August 2023 is shown within the Mini Cowpers Pre-School Group CIO along with the comparative balances from the unincorporated charity for the year ended 31 August 2022 to show a true and fair reflection of the activity.
Page 13
## **Mini Cowpers Pre-School Group CIO**
## **Detailed Statement of Financial Activities for the Year Ended 31 August 2023**
|**Income and Endowments from:**
Charitable activities (analysed below)
Other trading activities (analysed below)
Total income
**Expenditure on:**
Charitable activities (analysed below)
Total expenditure
Net (expenditure)/income
**Reconciliation of funds**
Total funds carried forward|**Total**
**Year ended 31**
**August 2023**
**£**
99,963
450
100,413
(101,199)
(101,199)
(786)
(786)|**Total**
**28 July 2021 to**
**31 August 2022**
**£**
99,976
1,028|
|---|---|---|
|||101,004|
|||(95,215)|
|||(95,215)|
|||5,789|
|||5,789|
Page 14
## **Mini Cowpers Pre-School Group CIO**
## **Detailed Statement of Financial Activities for the Year Ended 31 August 2023**
|**_Charitable activities_**
UK Government grants
Fees and supplies
Interest on cash deposits
**_Other trading activities_**
Fundraising
**_Charitable activities_**
Wages and salaries
Staff NIC (Employers)
Staff pensions (Defined contribution) - pension scheme 1
Staff training
Staff uniform
Daily running supplies
Rent and rates
Repairs and maintenance
Telephone and fax
Computer software and maintenance costs
Cleaning
Depreciation of fixtures and fittings
Depreciation of office equipment
Entertaining
Insurance
Legal and professional fees
Accountancy fees
Bank charges|**Total**
**Year ended 31**
**August 2023**
**£**
42,100
57,717
146
99,963
450
450
(63,299)
56
(915)
(1,242)
(149)
(7,975)
(12,680)
(875)
(519)
(1,519)
(3,900)
(2,602)
(170)
(948)
(484)
(498)
(3,480)
-
(101,199)|**Total**
**28 July 2021 to**
**31 August 2022**
**£**
57,599
42,372
5|
|---|---|---|
|||99,976|
|||1,028|
|||1,028|
|||(58,505)
-
(865)
(1,100)
(480)
(9,430)
(13,450)
(852)
(455)
(1,809)
(2,561)
(2,602)
-
-
-
(60)
(3,041)
(5)|
|||(95,215)|
Page 15