Charity Registration Number 1195503 Ofsted Registration Number 2662705 FOUNDRY UNDER FIVES PRE-SCHOOL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR YEAR ENDING 31 AUGUST 2024 FOUNDRY UNDER FIVES PRE-SCHOOL CONTENTS Trustees report Page 1-3 Statements of Trustees responsibility Page 4 Statement of financlal activitie5 Pa8e 5 Balance sheet Page 6 Note5 to financial statements PaEe7-10 FOUNDRY UNDER FIVES PRE-SCHOOL TRUSTEES REPORT FOUNDRY UNDER FIVES PRE-SCHOOL TRUSTEES REPORT FOR THE YEAR ENDING 31 AUGUST 2024 The trustees present their annual report and financial statements for the year ending 31 August 2024 The financial statements have been set out in accordance with the accounting policies set out in note I to the flnancial statements. OBJECTIVES AND ACTIVITIES The objectives of the charity are.. 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. Providing care and pre-school education to chlldren aged 2-5yrs old. Offering appropriate play, education and care facilities and training courses, together with the right of parents to take responsibility for and to become involved in the activities of such groups, ensuring that such groups offer opportunities for all children whatever their race, culture, religion or means of abilitv. Instigating and adhering to and furthering the alm of the pre-school alllance The Trustees have paid due regard to guidance issued by the Charity Commission on public benefit when reviewing the charity's aims and objectives and in planning future activities. In particular the Trustees consider how planned activitie5 will contribute to those aims and objectives. ACHIEVEMENTS AND PERFORMANCE Action plan what we achieved.. Continue to ensure up to date training Work towards a new pre-school kitchen Continue to work with the SENCO on ILP'S and SEND matters Continue to try and finalise the pre-school lease Continue to fundraise towards new boiler TRAINING COMPLETED Food Hygiene, Level 2 Safeguarding & Level 3 Safeguarding, Children in Care, Safe sleep training, Wrap prevent, Behaviour training, Inclusion fund training, Children's mental health, Effective SEN practice, Advanced SEN practice, FGM. PREVENT, Child sexual exploitation, British values, WitchcTaft, Breast Ironing. FINANCIAL REVIEW The results for the year are shown in the statement of financial activities and show a profit of £5580.86 (Profit of £13294 in 20231 with together the reserves brought forward give a total reserves figure at the year-end of £292571£36300 in 20231. RESERVES POLICY The Trustees aim to hold reserves in fund5 at an adequate level to support the charit¢s current and future activities and aim to increase the amount by £5,000 per year. INVESTMENT POLICY The Trustees have considered the most appropriate pollcy for investing funds and that the urrent arrangement with short term bank deposits meets the requirement to generate a reasonable return on capital whilst maintaining access to funds for operational purposes. 6wkla&E￿￿16E666E6GE6E66ÉE£ÉEEE£fi£G6E666f6EE6EEE6666￿E6£Gsfi666E6G66fi66￿s£GE66É6fjE6fi6 The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. The contribution made by volunteers to the charity are immeasurable as they not only run the committee but also help with fundraising and community activities. PLANS FOR THE FUTURE The charity plans to continue the activities outlined above in the forthcoming years and at the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing these financial statements. STRUCTURE, GOVERNANCE AND MANAGEMENT Foundry Under Flves Pre-school is a Charitable Trust, governed by a constitution and Trustees are selected using an elected by and seconded method. FOUNDRY UNDER FIVES PRE-SCHOOL LIST OF TRUSTEES FOR THE YEAR ENDING 31 AUGUST 2024 TRUSTEES The Trustees are,, Lydia Ralph Nicholas Stanlake Ruth Mundav Chloe Johns Joanne Stevens RECRUITMENT AND INDUCTION OF TRUSTEES Subject to approval of the members, the Trustees may appolnt a J)erson who is wllling to act to be a Trustee. Potential Trustees meet the Trustees and senior management prior to the proposal as a Trustee. Once appointed, Trustees undertake an induction into the working of the thaiitable EDrnpany inEludin8 obsErvinE DpeTatiDnal aitiwrty, di5LU551Dn Mii(h stèff and reading information such as financial statements and other evaluation documents. and the Nursery Manager is responsible for the day-to-day management and administration of the charity and reports to the Trustees. FOUNDRY UNDER FIVES PRE-SCHOOL STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDING 31 AUGUST 2024 Company law requires the Trustee5 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 including the income and expenditure of the charitable company for that year. In preparing these flnancial statements the Trustees are required to; Select suitable financial statements and then apply them consistentlv Observe the methods and principa15 in charity SORP Make judgments and estimates that are reasonable and prudent State whether applicable UK accountlng standards have been followed Prepare the financial statements on the going concern basis The Trustees are responsible for keeping adequate accounting records that disclose wlth reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. FOUNDRY UNDER FIVES PRE-SCHOOL STATEMENT OF FINANCIAL ACTIVITES FOR THE YEAR ENDING 31 AUGUST 2024 Income from Donations and Grants Fundralsln£lncome Charltable Actlvltles Other Revenue ICVJRSI Interest 2024 2023 Nc)te £839 £1515 £112042 £113006 £298 £104 Total Income £114145 £113661 Expenditure on Charitable Actlvities £108564 £100367 Net Profit/Loss for the Year £5580 £13294 The statement of financial activities includes all gain5 and losses recogni5ed in the year All income and expenditure derive from continuing activities The charity has opted to prepare the accounts under Charities SORP IFRS 1021 and is exempt fjTDTn PTe￿IlnE ? LBSh ffluw statement Dn IhE BTCrtmdslhèt it is a STnBII Lhayity FOUNDRY UNDER FIVES PRE-SCHOOL BALANCE SHEET FOR THE YEAR ENDING 31 AUGUST 2024 Foundry Under Fives Pre School As at 31 August 2024 Balance Sheet Foundry Under Fives Pre School As at 31 August 2024 31AUG 2024 Fixed Assets Ta ComputerEqulpTneTrl OfficeE9uipmenl Tot31T3ngibleA55etS 278.59 6.00 284.59 Total FixedAssets 284.59 Current Assets Cash at bjnkand in hand FOUNDRY UNDER FWES 18,247.20 23,676.50 New SawnÉs Account PÈityCash Total Cash at bank and in hand 72.75 41.996.45 Prep3ymenis Total CurrenlA$5ets 41,996.43 Creditors.. amounts fallin Accounts Payable due within one ear 34,287.21 PAYE Payable Total Creditors.. amountsfalllneduewithln one year 1,695.26 35,880.31 Net CvrrentAssets (Liabllltlesl 6.116.12 Total Assets less Current Liabilities 6,400.71 Net A55ets 6,400.71 Ca ital and Reserves Currentyear Earnings Retained Earnin8S Totalcapitol And ReseNes 5,580.86 8Lg.8S 6,400.71 BI￿nCeS￿eet F¢undryUD¢erFivesPreSchooI 14 May202S The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relatin8 to sm311 companies. The members have not required the company to obtain an audit in accordance with section 476 of the Com anies Act 2006 JJJJJJyJJJJaJJsJJJJJJJJJJJJJJJJJJJJJJJJJJsJJJJtsJJJ JJJJJJJJJJJJJJyJiJJJJJJJJJJJJJJJJJyyJJJ The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP. Signed on behalf of the charity's Trustees Print Name Signature Position Date FOUNDRY UNDER FIVES PRE-SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 AUGUST 2024 I. ACCOUNTING POLICIES These financial statement5 have been prepared in accordance with FRS 102 The Financlal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. Accounting and Reporting by Charities the statement of recommended practice for Charities applying FRS 102, the Companies Act 2006 and UK Generally Accepted Practice a5 it applies from I January 2015. The Charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in Sterlin& which Ss the functional currency of the charity. Monetary amounts are rounded to the nearest £. At the time of approving the f inancial statement5, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thu5, the trustees continue to adopt the going concern basis of accounting in preparing these financial statements. There have been no changes in Accounting policies. All policies have been applied on bases consistent with those used in previous years. Income is recognlsed when the charity Is legally entitled to it after any performance condition5 have been met, the amounts can be measured reliably and it is probable that income will be received. Liabilities are recogni5ed as soon as there is a legal or constructive obligation committing the charity to pay out resources. Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreclatlon is recognised so as to write off the cost or valuation of asset5 less their residual values over their useful lives on the following bases.. Plant and machinery Fixtures and fittings 4 YEARS 4 YEARS The gain or loss arising on the disposal of an asset 15 determined as the difference between the sale proceed5 and the carrying value of the asset, and is recognised in net incomelexpenditure for the year. The company being a registered charity is exempt from corporation tax. 2. DONATIONS AND LEGACIES 2024 150 840 2023 Donations and grants Fundraising 1515 3. CHARITABLE ACTIVITIES Funded Fees 95,179 100,018 Nursery Fees 17,827 12,024 Tota I 113,00& 112,042 Charitable activltles 2024 Charitable activities 2023 4. EXPENDITURE ON CHARITABLE ACTIVITIES 2024 2023 Staff costs Depreciation Staff training Resources Insurance Maintenance and Rent IT malntenance 93,537 85,641 383 1,960 1.318 2,003 492 378 1,841 1,351 1,311 378 ¥- I I Utilities & Telephone Consumables Professional fees & subscriptions Fruit Stationery and Postage Staff Benefits Consulting 4.600 482 2,365 530 570 514 4,400 1,095 2,730 546 469 356 Total unrestricted funds Yr ending 31 Aug 2024 £108,754 Total unrestricted funds Yr ending 31 Aug 2023 £100,367 5. TRUSTEES One of the trustees has been paid any remuneration or received any other benefits from an employment with their charity or a related entity. 6. RELATED PARTY TRANSACTIONS Remuneratlon of key management personnel 2024 21,472 Lydia Ralph (Manager) 23,24É) 7. EMPLOYEES 2024 202::3 The Average number of employees duringthe year was li Imployment costs Pension and Nl costs 95,984 998 96,982 1,17:) 91,772 8. OTHER CREDITORS FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditors 1695 14 io Profit and Loss Foundry Under Fives Pre School Forthe year ended 31 August 2024 202d Turnover cornwallcouncil Funding 95,179.72 839.85 298.45 Pre 5(hool Fees 17,827.37 TotalTurnover 114,14S.39 Cost of Sales CoThsumable5 482.36 F￿1t $30.32 Grosssalarlès 92,538.91 Resource5 1.960.73 Total C05tof Sale5 95,512.32 Gros5 Profit 18.633.Q7 Administrative Costs Audit &Accountancyfees 8ookkeeplngand PayrollC¢sts 250.00 2,040.50 1150.001 219.00 Entertalnment-IOO%bu5iness General Expenses Insurance 490.51 1.318.18 145.761 IT Software and Con5UTnables 491.99 Pensionscosts 99&79 Postage, Freighi & Courier Printing& Stationery ftètes 9.40 561.94 104.79 Rent 50.00 Repairs&Maintenance StalFEntertainment-o J,359.QO 190.00 382.40 siaff Uniforms 105.20 75.00 Telephone&lnternot 502.90 4,097.37 13.OS2.21 TotalAdrDin15trètlveC05ts Operating Profit Profit oh Oydinary Activities Before Taxation 5,S80.86 5,580.86 Profit after Taxatlon 5,580.86 Fi¢iiand L055 Foundrythder FlvesPrekho 14tlay2025 Pagtioll $ ￿ ¥ % % S 8 8 51111111111liiiiiiiii{ I 11 6 1 8 1 8 8 1 8 Approved and paid Foundry Under Fives Pre School For the period I September 2023 to 31 August 2024 LASI PAYMENT DATE PAVHENFSI IWOICE DATE SOURCE AEFERENCE DUEDATE GROSS BALAWCE South West Water 29 Feb 2024 Payable Invoice 9Aug2024 payable Invoice Total South Westwarer 4085133224 15 Apr 2024 31 Aug2024 15 Jan 2024 234.17 234.17 5086916820 15Jul 2024 251.86 251.86 486.03 486.03 Total 486.03 486.03 AppTovedandp3id Fvurtrtryufidei Fives Ple￿h0o1 13May202S Pa8elofl I, I I I I I I I I I I I 11 EI IE 11 C) ￿ 2 a ￿ 2 11 c I E. E E E E E E.. E E ¢L d d I I I I I I I I I I I I CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Report to the trustees Foundry Under Fives Pre-school On accounts for the year ended 3181 August 2024 Charlty no (If any) 1195503 Set out on pages I report to the trustees on my examination of the accounts of the above charity {"the Tru$V) for the year ended 3110812024 As th8 charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the Acf). Responslbllltles and basls of report I report in respect of my examination of the Trust's accounts carried out under sedion 145 oflhe 2011 A¢t and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under sedion 145(5)(b} of the Act. Independont IThe charity's gross income exceeded £250,000 and l am qualified to oxaminer's statsment undertake the examination by being a qualified member of AAT. I have completed my examination. I confim that no material matters have come to my attention in connection wlth the examination (other than that disclosed below.) which gives me cause to believe that in. any material respèct.. the accounting records were not kept in accordan￿ with section 130 of the Charities Act., or the accounts did not accord with Ihe accounting records., or the accounts did not comply with the applicable requirements Con￿rning th8 form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'tru8 and fair, view which is not a matter considered as part of an independent examination. I have no conc8rns and have come across no other matters in conn8Ction with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Slgned: PwiC6rf Date: 1610612025 Name: Pippa Arthur Ro18vant profes8lonal quallflcatlonl$) or body (If any): AAT Accountant IER Oct 2018 Address: 18 Millbank Méadow Leedtown, Hayle, Cornwall TR7 60P Section B Disclosiire only complete if the examiner needs to highlight material matters of concern {see CC32, Independent examination of charity accounts.. directions and guidance for examiners), Glve here brlef detslls of any Itèm8 that the examlner wl$ho8 to di$clo80. IER Oct 2018 Plppa Arthur Pippa ArthurAc¢ountaney 18 Mlllbank Meadow LeBd5town PIPPA ARTHUR Hayle c C O U N T A Cornwall TR27 6DP 07S00908232 16')une 2025 Tothe tru6t8881memb8rgof Foundry Und8r F￿&8 Pra-school I have completed myexamindtlon for accounts Sept231Aug 24. l ¢onflrm that no materfal matter8 havè¢om8to myattention In connectlonwlththe ex8mlnatlon glvlng me cause to bo116ve th8tln8ny mat&i181 respect.. 11IAc¢ountlng recordswere notkept In respect of theTru8t a8 requlred by se¢tlon 130 oltheA¢i', OT 12ITh• accounts do not accord wlth tho$e records. I hav4 no conceTn8 and hava come across noother matt8rs In conne¢tlon with the examinatlon towhlch attention should be drawn In thls report In orderto enable o proper und8rstsndlng of the accounts to b9 reached. ssgned N8m8'. PIPPAARTHUR RelgV8nt profvsslonal qua(Iflcatlon or body.. AAT ACCOUNTANT Adflr885'. 18 MILLBANK MEADOW, LEEDSTOWN. HAYLE. CORNWALL, TR27 6DP.