Little Village Learners and Fun Track
Charity number 1195394
Annual Report and Financial Statements
for the period 4 August 2021 to 31 July 2022
Little Village Learners and Fun Track
Annual Report and Financial Statements for the period 4 August 2021 to 31 July 2022
| Contents | Page |
|---|---|
| Trustees' report | 2 to 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the accounts | 8 to 12 |
Prepared by West Yorkshire Community Accountancy Service CIO
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Little Village Learners and Fun Track
Trustees' report for the period 4 August 2021 to 31 July 2022
Reference and administrative details of the charity, its trustees and advisors
The trustees during the financial year and up to and including the date the report was approved were: Name Position Dates
Lyndsey Kata Natalie Kata Claire Wardley Michael Halstead
Charity number
1195394
Registered in England and Wales
Registered and principal address Bankers Mytholmroyd Community Centre Barclays Bank Caldene Avenue 39/47 Commercial Street Mytholmroyd Halifax HX7 5AF HX1 1BG
Independent examiner
Simon Bostrom FCIE
West Yorkshire Community Accountancy Service CIO
Stringer House 34 Lupton Street Leeds LS10 2QW
Structure, governance and management
The charity is a Charitable Incorporated Organisation (CIO) association formed on 4 Aug 2021 and is governed by a constitution.
Method of recruitment and appointment of trustees
The trustees of the charity are appointed by the members at the AGM.
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Little Village Learners and Fun Track
Trustees' report (continued) for the period 4 August 2021 to 31 July 2022
Objectives and activities
The charity's objects
The development of children and young people by
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1) Promoting their care and safety;
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2) Promoting their education and promoting parental involvement
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3) Promoting their health and wellbeing
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4) Providing services to support them and their families and carers
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5) Providing services to individuals holding membership of the CIO
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6) furthering the aims of the Pre-School Learning Alliance
The charity's main activities
Established in 1977, we are a friendly, lively playgroup situated in the local Community Centre. We offer a safe, stimulating and fun environment for children aged 14 weeks to 11 years old. We are Ofsted approved and have funded places available for children over 3 years and, where eligible, 2 year olds. Our aim is to help your child to socialise with other children and to learn skills through free-play and focused activities.
Public benefit statement
In setting our objectives and planning our activities our Trustees have given serious consideration to the Charity Commission’s general guidance on public benefit and in particular the development and education of children and young people.
Achievements and performance
In the last financial year, we have retained all staff. We keep our training up to date including statutory responsibilities e.g. Safeguarding. We have good links with local schools and the community. We are steadily busy with good word of mouth recommendations.
We have been migrating towards a CIO status which is now completed and therefore this Charity will wind up within the next 12 months. We have struggled to recruit Committee due to the financial liabilities associated with being an unincorporated charity.
We will operate under our new Charity Little Village Learners and Fun Track CIO. A transfer of assets resolution was passed at a formal meeting.
Financial review
The net income for the year was £15,531, including net income of £15,531 on unrestricted funds and net income of £0 on restricted funds after transfers.
Our Trustees remain in constant communication regarding financial costs and have agreed on a fee increase to ensure we can manage rises in rent and wages going forward.
The EEF funding rates have not risen inline with rising wage costs and we have had to introduce a consumables charge for families in receipt of funded only hours. EEF funding cover basic childcare but not other outgoings, in order to remain sustainable, we have no other choice than to pass costs onto our consumers.
We have seen a lack of uptake for our before and after school service due to the local school starting their own provision. Our Holiday club has seen and increased uptake so we hare hopeful to remain sustainable.
We continue to hold several fundraisers throughout the year which allow us to purchase new resources.
Our local supermarkets are supportive and donated Easter Eggs that we raffled off to raise funds.
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Little Village Learners and Fun Track
Trustees' report (continued) for the period 4 August 2021 to 31 July 2022
Reserves policy
The charity's free reserves at the year end were £61,481.
The operating reserve will be reviewed and adjusted by the Trustees, Management Committee and setting Management Team, monthly, in response to internal and external changes. Definitions and Goals The 'Operating Reserve Fund' is defined as the fund set aside by the Trustees and Management Committee. The minimum amount to be designated as operating reserve will be established as an amount sufficient to maintain services for a set period of 3 months. The target minimum operating reserve fund is equal to 3 months of average recurring operating costs, which we estimate to be £62,000 and we hope to meet our policy next year as we are projecting a further surplus.
The Management Committee Officers are responsible for ensuring that the Operating Reserve Fund is maintained and used only as described in this policy. Review of Policy Purpose The purpose of this reserves policy is to build and maintain an adequate level of unrestricted funds to support the organisations day-to-day operations in the event of unforeseen shortfalls. The reserve may also be used for one-time, non-recurring expenses.
This policy will be reviewed yearly and whenever there are significant changes in staff hours or numbers. We are currently below our reserves, but we have various fundraising activities planned this year. We have also increased our fees; all of these will help to build the reserve level up.
Approved by the board of trustees on 9/05/2023
Natalie Kata (Trustee)
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Little Village Learners and Fun Track
Independent examiner's report to the trustees of Little Village Learners and Fun Track
I report to the charity trustees on my examination of the accounts of the CIO for the period 4 August 2021 to 31 July 2022, which are set out on pages 6 to 12.
Responsibilities and basis of report
As the charity trustees of the 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 CIO's accounts as carried out under section 145 of the 2011 Act. 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
Since the CIO's gross income exceeded £250,000 your examiner must be a fellow of a body listed in section 145 of the 2011 Act.
I confirm that I am qualified to undertake the examination because I am a fellow of ACIE which is one of the listed bodies.
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:
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1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act; 2 the accounts do not accord with those records; or
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3 the accounts do not comply with the applicable 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.
Simon Bostrom FCIE
9/05/2023
West Yorkshire Community Accountancy Service CIO
Stringer House 34 Lupton Street Leeds LS10 2QW
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Little Village Learners and Fun Track
Statement of Financial Activities
(including summary income and expenditure account) for the period 4 August 2021 to 31 July 2022
| Notes 2022 Unrestricted funds £ Income from: Grants and donations (2) 10 Fees 155,585 Milk rebate 622 Bank interest 59 Fundraising 3,423 Other income 19 Total income 159,718 Expenditure on: Salaries and NI (3) 112,360 Administration 1,083 Advertising 138 Bank and card machine charges 179 Milk 1,187 Telephone 840 Subscriptions 529 Fundraising expenditure 591 Insurance 453 Rent and room hire 5,280 Repairs and maintenance 105 Training 481 Activities, trips, equipment and purchases 7,549 Food 5,231 Laundry and cleaning 179 Professional fees 32 Accountancy and independent examination 1,334 Staff gifts 837 Bad debts 5,799 Total expenditure 144,187 Net income / (expenditure) 15,531 Fund balances brought forward 45,950 Fund balances carried forward (4) 61,481 |
2022 Restricted funds £ 107,258 - - - - - 107,258 95,882 722 92 119 - 560 353 - 302 3,520 70 321 5,032 - 120 22 143 - - 107,258 - - - |
2022 Total funds £ 107,268 155,585 622 59 3,423 19 266,976 208,242 1,805 230 298 1,187 1,400 882 591 755 8,800 175 802 12,581 5,231 299 54 1,477 837 5,799 251,445 15,531 45,950 61,481 |
restated 2021 Total funds £ 120,683 107,413 345 21 3,089 35 231,586 197,323 2,486 219 259 922 1,340 677 921 750 8,400 1,637 1,076 10,242 4,306 78 100 2,138 - - 232,874 (1,288) 47,238 45,950 |
|---|---|---|---|
All incoming resources and resources expended derive from continuing activities.
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Little Village Learners and Fun Track
Balance sheet
| as at 31 July 2022 2022 Unrestricted £ Current assets Debtors and prepayments (5) 6,322 Cash at bank and in hand (6) 57,246 Total current assets 63,568 Current liabilities: amounts falling due within one year Creditors and accruals (7) 2,087 Total current liabilities 2,087 Net current assets / (liabilities) 61,481 Net assets 61,481 Funds Unrestricted funds 61,481 Restricted funds - Total funds 61,481 |
2022 Restricted £ - - - - - - - - - - |
2022 Total £ 6,322 57,246 63,568 2,087 2,087 61,481 61,481 61,481 - 61,481 |
2021 Total £ 4,860 43,090 47,950 2,000 2,000 45,950 45,950 45,950 - 45,950 |
|---|---|---|---|
The financial statements were approved by the board of trustees on 9/05/2023
Natalie Kata (Trustee)
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Little Village Learners and Fun Track
Notes to the accounts
for the period 4 August 2021 to 31 July 2022
1 Accounting policies
Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
The basis of accounting has been changed from receipts and payments basis to accruals basis. This has meant that a number of adjustments have been made to the comparative figures to include fixed assets, debtors and creditors and long term liabilities. An analysis of the amendments has been provided in the notes.
Going concern
The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.
Incoming resources
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.
Grants and donations
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.
Expenditure and liabilities
Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.
Taxation
As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
Pensions
The charity operates a defined contribution scheme for the benefit of its employees. The costs of contributions are recognised in the year they are payable.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Further explanation of the nature and purpose of each fund is included in the notes to the accounts.
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Little Village Learners and Fun Track
Notes to the accounts continued
for the period 4 August 2021 to 31 July 2022
| 2 Grants and donations Calderdale Met. Borough Council (CMBC) HMRC - C19 Job Retention Scheme (JRS) Co-op - Local Community Fund Donations 3 Staff costs and numbers Gross salaries Social security costs Employment allowance Pensions |
2022 Unrestricted funds £ - - - 10 10 |
2022 Restricted funds £ 100,433 6,825 - - 107,258 |
2022 Total funds £ 100,433 6,825 - 10 107,268 2022 £ 201,678 8,541 (4,866) 2,889 208,242 |
2021 Total funds £ 93,087 22,420 5,018 158 120,683 2021 £ 195,847 3,235 (4,121) 2,362 197,323 |
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The average number of employees during the year was 16.9, being an average of 11.3 full time equivalent (2021: 18.9, 13.7 FTE). There were no employees with emoluments above £60,000.
| Defined contribution pension scheme Costs of the scheme to the charity for the year Amount of any contributions outstanding at the year end 4 Restricted funds Balance b/f Incoming £ £ CMBC Early Education funding - 88,346 CMBC Inclusion funding - 12,087 HMRC JRS - 6,825 - 107,258 |
Outgoing £ 88,346 12,087 6,825 107,258 |
2022 £ 2,889 140 Transfers £ - - - - |
2021 £ 2,362 100 Balance c/f £ - - - - |
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Fund name
CMBC Early Education funding CMBC Inclusion funding
HMRC JRS
Purpose of restriction
For the supply of free early years provision for 2 to 4 year olds
To support early years providers in meeting the needs of individual children with Special Educational Needs
Towards salary costs of staff who were furloughed due to Covid-19
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Little Village Learners and Fun Track
Notes to the accounts continued
for the period 4 August 2021 to 31 July 2022
| 5 Debtors and prepayments Debtors Less provision for bad debts Prepayments 6 Cash at bank and in hand Cash at bank Cash in hand 7 Creditors and accruals Prepaid Fees Accruals Taxation and social security Other creditors |
2022 £ 11,546 (5,799) 575 6,322 2022 £ 57,187 59 57,246 2022 £ - 1,020 927 140 2,087 |
2021 £ 4,297 - 563 4,860 2021 £ 43,038 52 43,090 2021 £ 1,039 900 61 - 2,000 |
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8 Related party transactions
Trustee expenses
No trustee received any expenses during this year or the previous year.
| Details of remuneration and benefits Name of trustee Legal authority Lynsey Kata Governing document |
2022 £ 18,394 18,394 |
2021 £ 17,828 17,828 |
|---|---|---|
Reason for remuneration
Lyndsey is a trustee and employee of the playgroup. She is only paid for her employee duties as the deputy manager.
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Little Village Learners and Fun Track
Notes to the accounts continued
for the period 4 August 2021 to 31 July 2022
11 Restatement of prior year figures due to change in accounting basis
As a result of the change in the basis of accounting from receipts and payments to accruals, there have
| Effect of change on Statement of Financial Activities 2021 Unrestricted funds Grants £ Original figure in statutory accounts, year ended 31 July 2021 - Deduct accrued income (July 2020 year end) - Add accrued income (Aug 2021 year end) Restated total - 2021 Unrestricted funds Fees £ Original figure in statutory accounts, year ended 31 July 2021 108,270 Deduct fees owed (Aug 2020 year end) (4,115) Add fees owed (Aug 2021 year end) 3,258 Restated total 107,413 2021 Unrestricted funds Total expenditure £ Original figure in statutory accounts, year ended 31 July 2021 114,523 Deduct creditors (Aug 2020 year end) (1,258) Add creditors (Aug 2021 year end) 577 Add debtors (Aug 2020 year end) 338 Deduct debtors (Aug 2021 year end) (338) Restated total 113,842 Effect of change on fund balances as reported at 31 Aug 2021 2021 Unrestricted funds £ Original fund balances brought forward as at 1 Aug 2021 40,677 Add Grants owed - Add fees owed 4,115 Deduct accruals (1,417) Add prepayments 338 Restated fund balances brought forward as at 1 Aug 2021 43,713 |
2021 Restricted funds £ 119,751 (4,244) 115,507 2021 Restricted funds £ - - - - 2021 Restricted funds £ 119,751 (1,103) 384 225 (225) 119,032 2021 Restricted funds £ - 4,244 - (944) 225 3,525 |
2021 Total funds £ 124,927 (4,244) 120,683 2021 Total funds £ 108,270 (4,115) 3,258 107,413 2021 Total funds £ 234,274 (2,361) 961 563 (563) 232,874 2021 Total funds £ 40,677 4,244 4,115 (2,361) 563 47,238 |
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Little Village Learners and Fun Track
Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account)
for the period 4 August 2021 to 31 July 2022
| 2022 2021 Unrestricted Unrestricted funds funds £ £ Income Grants and donations 10 5,176 Fees 155,585 107,413 Milk rebate 622 345 Bank interest 59 21 Fundraising 3,423 3,089 Other income 19 35 Total income 159,718 116,079 Expenditure Salaries and NI 112,360 92,040 Administration 1,083 1,492 Advertising 138 131 Bank and card machine charges 179 259 Milk 1,187 553 Telephone 840 804 Subscriptions 529 406 Fundraising expenditure 591 921 Insurance 453 450 Rent and room hire 5,280 5,040 Repairs and maintenance 105 982 Training 481 646 Activities, trips, equip and purchases 7,549 6,145 Food 5,231 2,584 Laundry and cleaning 179 47 Professional fees 32 60 Accountancy and independent exam 1,334 1,282 Staff gifts 837 - Total expenditure 138,388 113,842 Net income / (expenditure) 21,330 2,237 Fund balances brought forward 45,950 43,713 Fund balances carried forward 67,280 45,950 |
2022 Restricted funds £ 107,258 - - - - - 107,258 95,882 722 92 119 - 560 353 - 302 3,520 70 321 5,032 - 120 22 143 - 107,258 - - - |
restated 2021 Restricted funds £ 115,507 - - - - - 115,507 105,283 994 88 - 369 536 271 - 300 3,360 655 430 4,097 1,722 31 40 856 119,032 (3,525) 3,525 - |
2022 Total funds £ 107,268 155,585 622 59 3,423 19 266,976 208,242 1,805 230 298 1,187 1,400 882 591 755 8,800 175 802 12,581 5,231 299 54 1,477 837 245,646 21,330 45,950 67,280 |
restated 2021 Total funds £ 120,683 107,413 345 21 3,089 35 231,586 197,323 2,486 219 259 922 1,340 677 921 750 8,400 1,637 1,076 10,242 4,306 78 100 2,138 - 232,874 (1,288) 47,238 45,950 |
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