FORDHAM PRESCHOOL CHARITY NO. 1196994 TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST AUGUST 2023 The trustees of Fordham Preschg01 (Yhe Preschool'l present their report for the year ended 31stAugust 2Q23. The Preschool is an unincorporated association, governed by a constitution adopted on 6th November 1979 a5 amended on 9 February 2021. Administrative detai18, including office address, can be found in the financial statements. The Trustees during thè year were-. Michelle Warmck onlinued 8ppointm&nt 3fft September2022 suned 3m Septemb&r2022 Isabellè Bailey Ellzabeth Gooclyear continued appointment 3cY Septemb6r2022 conlinuod appointment 3(Y' Septembér2022 appointed 3(yh September2022 The members ofthe Managing Committee during the year were.. Chairperson.. Leoni Alderton Secretary.. Michelle Warwick Treasurer.. Elizabeth Goodyear Other members.. Daniel Jamès Ewa Steam Clair Bennison Katie Whittte Daniel James Leoni Alderton Managing Committee members are elected or appointed on an annual basis with the officers being elected from the membership of the Managing Committee. The AGM is held in September. In planning our aclivits'es, we have kept in mind the Chartty Commission's guidance on public benefit at our trustee meetings. The charity was established in 1984 and is registered with the Charity Commi5$ion number 1198994 in England and Wales. The Preschool is a member of the Earty Yeats Alliance and registered with Otsted under number EY218234. The Preschool re￿Ived funding from the Community Fund during 1999 enabling the construction of new building into which the Preschool moved al the beginning of January 2002. During this financial period, th& chanty cgnverteLf from unincorporated association lo Charttable Incorporated Association and all reseNes 8nd acb"vities have been I￿nSferred to the new legal structuff and the unincorporated association has been dissolved. The Charity employ& MergerAccounling as provided in Section 27 on the Charities statement of Recommended Practice IFRS1021. In light ofthis Bhange and eonsidering Ihatthe charity's underlying Éctivity'es, reserves and assets, and key management are expected to remain substsnlially unchanged and all operations are carrying on uninterwpted, the Trustees deem it appropriate to eonlinue to use going con*m basis in pr8paring the enclosed financial stalemenls. The obj&cl of the charty is lo provide a high stsndard of Preschool educ2tion and WTaparound care for the children of Fordham suffounding areas, whilst keeping fees as low as possible. The Preschool is run by a oommittee of parent volunteers. It is exceedingly lucky lo have a wonderful teaching staff. As thè village grows du8 to numerous new developments, the Preschool has continued to be very popular, wth morning and aftemoon sessions being completely full by the end of the year. FORDHAM PRESCHOOL CHARITY NO. 1196994 TRUSTEES. ANNUAL REPORT ST FOR THE YEAR ENDED 31 AUGUST 2023, Gontlnued Th8 Out of school clubs also continue to be popular with an average of around 27 attending each session. The Preschool's financial position was very strong. Income from ¢haritable activities amountèd lo £157.759, which included tho continued government funding for early years edLJcation. The Trustees maintain RÉstricted Reserves of £163,850 12022.. £1 S3,8501 which is the c051 of Constructing the building. from which lo provide ils charitabl? aclivilies, and represents the grant awarded by the Community Fund in 1999. Unrestricted rèserves amounted to £160,938 12022.. £63,461), of which cash reserves in accounts with notice Df less th?n one year IDlalled £80,22312022.' £160,815). The service that the charity provides as its core charitable activity Is an infrastnjcture that is in high demand. Additionally, the Preschool holds enough reserves to financially support the Charity through periods of hardship. The Trustees therefore consider there to be no signiflcanl uncertainly as to the Charity's ability lo continue as a going concern. The Preschool has a Reserve Policy in place and holds SLthcienl financial reserves to sustain the Pteschool if 115 income falls below expected leve5s_ The intention would be to continue functioning as a preschool, if al all possible, and to cover the payment of stsff redundancies in the unlikely event that the Pres¢hool had to close. The level Df reserves maintained reflects the equivalent of six months, running ￿$ts. any potential major repairs to the building or any prDposed improvement projects. The reserve funds are held in a separate savings account, included in the figure Carried as unreslricled Cash reserves, and the amount currently being hold is available on request. The amount held in reserve is regularly monitored and reviewed at committee level_ The attached financial slalemenls have been approved by th8 Trustees. Leoni Alderton Trustee Fordham Preschool CIO Trusleès, Annual Report and Unaudited Financial Statèments 9th Sèptember 2022 to 315t August 2023 FORDHAM PRESCHOOL CIO CHARITY NO. 1196994 ADMINISTRATIVE DETAILS Trustees Elizabeth Goodyear Jade James Cathèiina Stafford Orla Young Holly Dacosta Leoni Aldertc)n appointecl 26 September 2023 &ppointed 26 Sepl8mbpr2023 appointed 21 September 2022 Tre8surÈr Elizabeth Goodyear Chair Leoni Ajderton Principal address and registered office la Isleham RcTrad Fordham, Ely CB7 5NL Bookkèèp*r SJG Bookkeeping 8 Granchesler Ris& BL￿[Well Cambridge. C825 OBE Accountant Colès Accounting ICambrid9el Limited Newton Hall, Town Street Newton Cambridge, CB22 7ZE Independenl Examlner TC Group PO Box 501, The Nexus Building Broadway, Let¢hworth Garden City Hèrts, SG6 9BL FORDHAM PRESCHOOL Cto CHARITY NO. 1196994 STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD TO 31ST AUGUST 2023 Unrèstricted RestTacted Funds Funds 2023 2023 Total Funds 2023 Total Funds 2022 Incomè and endowments trom- Note Donations and legacies Chaiitable activities Other trading activities Investment income Other 870 154,983 1,709 100 98 870 154,983 1.709 100 98 896 157,293 2,845 16 5.721 TotaI Kncome 157,759 157,759 166.771 Expendlthre on- Raising funds Charitable activities Olh&r 1,051 111,384 47,847 1,051 111,384 47,847 917 111,510 47,412 Totsl expenditu 160,282 160,282 159,839 Nèt In¢ome for the year 10 2,523 2,523 6,932 Translers bèNveen funds Net movement in funds 2,523 2.523 6,93 Recon¢AliatAon of funds Total fvnds brought forw8rd Total funds carrièd forward 163,481 160,938 163,850 163,850 327,311 324,788 320,379 327.311 All amounts r8late to continuing activities ol the CIO. The notes lo the accounts are shown on pages 10 and 19. FORDHAM PRESCHOOL CIO CHARITY NO. 1196994 BALANCE SHEET AS AT 31ST AUGUST 2023 2023 2023 2022 2022 Note Fixed Assets Tangible a55ets 12 180,250 180,250 183,538 183,538 urrent Assets Debtors Cash at bank and in hand 13 18 958 180,223 181,182 8,190 160,815 169,005 Liabilities creditors.. amounts falling dug wthin one year 14 136,6431 125,2321 Net Currenl Assets 144,539 143,773 Total Nèt Assets 324,786 327,311 Thè funds of the charity- Restricted income funds Unrestricted income funds 15 16 163,850 160,938 163,850 163,461 Total Funds 16 324,786 327,311 Approved by the trustees on I l and sign6d and authorised lor issue on their behalf by.. Leoni Alderton Trustee ¥-03.25 FOROHAM PRESCHOOL CIO CHARITY NO. 1196994 NOTES TO THE FINANCLAL STATEMENTS FOR THE PERIOD TO 31ST AUGUST2023 1. Accounting policies The principal accountin9 policiès adopted in the preparation of the finan¢i81 ststernents are as follows- lal Basis of preparation The financlal stst&m&nls have been prepared in accordance with Ststernent of Recomm¢nde%J Practicè.. Accounting and Reportiri9 by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic ol Ireland IFRS 1021 issuèd on 16 July 2014 and the Charities Act 2011. (bl Legal basis ol thè Charity The charity ts a CIO. Icl In¢oming resources All incom& is accounted lor a$ Soon as the Charity has èntitlÈrnent lo the income and there is a certalnty of the ￿¢&1p1. Income is re￿iVed fTDm donations, grants and gifts. Idl Expenditure All expenditur8 is #ccounted for on an a￿u8[$ basis and has bè8n listèd under headings that aggrpgale all costs related to that activity. Costs of ratsing ftjnds comprises fundraising cctsts incurred in sèèking donations, grants and legacies,. costs of fundr8sing activities including the ￿$ts of goods solds and thèir a$soGiated support costs. Support costs comprise those CDsts which are incurred direclty in support of 8xpenditure on th& objècts of the charity and include 9overnance costs, finance and office oosts. lel Ftsnd$ Un￿StrIGted funds are availablè to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of thè charity which the tru5teps have decided at thèir dtscretion to set aside for a sp8Gific purpose. Restricted funds are funds of the charity reslricled for specific sèNces being provided by the charity. The cost of raising and administering such funds are chargad against the specific fund. lfj Fixed Assets All assets ￿sting more than £150 are capilalised al their historic cost when purchased. except for computer Equipmont where all items with 3 value of £100 or more are capitalised. Depreciation is providèd to write off the cost or revaluod amount, less an estimated rèsidual valuè. of all fixed assets evenly over thèir èxpèctèd economic useful Iwes as foll¢)ws'. Buildings Building improvements Equipmènt carried at ¢osl Iotrlo on straight Ilne 33.33010 straight line The need for any impaimient of a fixèd asset wrile4own is considered if there is concem over the carrying valuo of an asset and is assessed by comparing that carying value against the vBluè in use or realisable value of the asset where appropriate. FORDHAM PRESCHOOL CIO CHARITY NO. 1196994 NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD TO 31ST AUGUST 2023 2. Income from donations and legacles Unrestrlcted Restricted Fund$ Funds 2023 2023 Total Funds 2023 Total Fund5 2022 Resource donations Charitable trusts Local Authority 9rants Scotsdales 670 670 396 200 200 500 870 870 896 3. In¢ome from charitable actlvltles Unrestricted Restricted Funds Funds 2023 2023 Total Funds 2023 Total Funds 2022 Early Years Education Out ol School Clubs 106,512 48,471 106,512 48,471 118,107 39,186 154,983 154,983 157,293 4. Income from other tradlng actfvltles Unrastrlcted RestTlcted Fund5 Funds 2023 2023 Total Funds 2023 Total Funds 2022 Fundraising Party hire and field trips sale ol school uniform 1,166 40 503 1.166 40 503 2.305 40 500 1,709 1,709 2.B45 5. Incomg from Investments Unrèstrlcted Restrfcted Funds Fund5 2023 2023 Total Funds 2023 Totsl Funds 2022 Bank interest reo8ivabl 100 100 16 100 100 16 FORDHAM PRESGHOOL CIO CHARITY NO. 1196994 NOTES TO THE FINANc￿L STATEMENTS FOR THE PERIOD TO 31ST AUGUST 2023 6. Other Income Unrestricted Rpstricted Funds Funds 2023 2023 Totsl Funds 2023 Totsl Funds 2022 Appr&nli¢eship incentive levy SGhool trip Other rèvsnue 2,250 413 3,059 98 98 98 98 5,721 7. Expendlture on raising funds Unrestricted Restricted Funds Funds 2023 2023 Total Funds 2023 Total Funds 2022 Costs of funclrai8ing Cost of school unifortn 65 986 65 986 155 762 1.051 1.051 917 8. ExpendÉture on charitable activitles Unrestrictèd Restricted Funds Fund$ 2023 2023 TDtsI Funds 2023 Total Funds 2022 Earty Years Education Out of School clubs 81.101 30,283 81.101 30.283 87,935 23,575 111,384 111,384 111,510 9. Other expenditure Unrestricted Restricted Funds Funds 2023 2023 Total Funds 2023 Totsl Fund5 2022 Employee costs Premises costs Deprèciation of fixed assets Gener81 administratic)n costs Legal and professional costs 4,144 24,397 3,526 11,829 3,951 4,144 24,397 3,526 11,829 3,951 15,852 16,900 4.086 6.474 4.100 47,847 47,847 47,412 FORDHAM PRESCHOOL CIO CHARITY NO. 1196994 NOTES TO THE FINANCiAL STATEMENTS FOR THE PERIOD TO 31ST AUGUST 2023 10. Net income before transfer5 This is statèd after charging.. 2023 2022 Depreclation of owned fxed assets 3,526 4.086 Independent Examination 400 400 11. Staff costs Unrestricted Restricted Funds Funds 2023 2023 Total Funds 2023 Total Funds 2022 Wag8s and salaries Social security costs Pension costs 107,423 503 2,696 107,423 503 2,696 113,151 2,487 110,622 110,622 115,637 No employees received in emoluments in excess of £60,000. The average number ol full time equivalent employe85 during thè year was 1012022.. 101. 12. Tarbgible fixgd assets Land and buildings Equipment Total Cost or revaluation". Al 9th September 2022 Additions Disposals 194,676 237 6,610 201,286 237 At 31st August 2023 194.913 6.610 201,523 Deprtrciation and impairment.. At 9th September 2022 D8preciation charge for the year Depreciation writtgn back on disposals 13,710 1,886 4,037 1.640 17,747 3,526 At 31st August 2023 15,596 5.677 21,273 Net Book Values.. Al 3151 Augus12023 179,317 933 180.250 At 9th September 2022 180,966 2,573 183,539 FORDHAM PRESCHOOL CIO CHARITY NO. 1196994 NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD TO 31ST AUGUST 2023 13. Debtors Totsl 2023 Total 2022 Due withffn L)ne y&ar Trade debtors Prepaymènts 958 6,107 2.083 958 8,190 14. Creditors fallSng due within one year Total 2023 Total 2022 Trade Bredilors Other taxes 8nd social seeutity Othèr ¢redilors Accnjals and deferred income 4,640 1.132 1.435 29.437 2,554 1,327 21,351 36,643 25,232 Deferred incom8 rèpresents kncal authority funding rE￿iVed in advancè of the educational and childc819 servicès being provtdgd. Movement of the deferred inttomp.. Total 2023 Tot81 2022 Al 9th Sept8mber 2022 Deferred Rèleased 20,951 28,317 20.951 18.475 99.197 96,721 At 31st August 2023 28,317 20,951 15. Movemgnt In funds Incoming sources, At 9th including September other galns Rèsources 2022 and losses expensed At 31st Au9USt 2023 R8strictsd funds-. Community Fund grant 163,850 163,850 Un￿$trI5￿d funds.. Gènarydl 163,461 157,759 160.282 160,938 Total Fund8 327,311 157,759 1160,2821 324,788 FORDHAM PRESCHOOL CIO CHARITY NO. 1196994 NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD TO 31ST AUGUST 2023 16. Movement in funds. contlnued Purposes and restrictions in relation to the fund8'. Community Fund grant.. to constrLsd a nèw building from which to deliver the charivs objectives and the provide Early Years child¢are and wrap-around childcare for school-age children. 17. Artalysls of net assets between fund$ Urhre5tricted Restricted fund$ tunds Totkl Fixed assets Net ¢urrent assets 16,400 144.539 163,850 180,250 144,539 160,938 163,850 324,788 18. Re¢onciliatlon of chJng•s in net debt At 9th September 2022 Cash flow$ At31st August 2023 Non4a$h changes Cash and cash equiv81gnts Cash 160,815 19,408 180,223 Tot81 Fund5 16D,815 19,408.20 180.223 19. Commitments Opgr8bng lease comrnilments Annual comrnitmonts under non-cancellablè operating leases are as follows.. Equlpment hirè 2023 Equipment hlre 2022 Operating leases With expiry date in the second to fifth years inclusive 624 624 624 624 Pension Gommitin8nts 2023 2022 The pension cost ch8rge to the charity amounted to 2,696 2.487 Unpald contribution5 dug to the fund are included in othgr creditors 655 395 FORDHAIIJ PRESCHOOL CIO CHARITY NO. 1196994 NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD TO 31ST AUGUST 2023 20. Related Party Transactlons During Ihe year, the charity invol¢ed the following arntsunts to its IrL￿teeS for the services rendered In Iran$actions al arm's length.. Jacfe James.. £1112022: £nll)', Cathering Stafford £4312022.. £nill. Total of £nil remained dLte from any of the trustè8s at the year end12022'. £nill. 21. Payments to trustees During the year tsvo of the trustees received remuneration for servires that they provided to the charity. The rèmunerated trustees are as follows.. Name Role Remunèratlon Pènsitsn Catherinè Stafford Jade James Administrator Manager £12.849 £28,638 £385 £859 No othèr benefits w?re paid lo the Iruslees. Under the CIO'S goveming document a paid employee of thè CIO may ba appointed a trustee, where his or her employment o¢¢uts prior to his or her Irusleeship. 22. Comparative balances The comparalwe balances shown in the accounts rglatè lo the P￿sChOol charity prirlr to becoming 2 CIO. Fixed and current assets and liabiltties were transferred from Fordham Preschool, charity numbèr 291541, on 30 March 2023. ## **Independent examiner's report on the accounts** **Section A Independent Examiner’s Report** **Report to the trustees** Charity Name Fordham PreSchool **On accounts for the year** 31 August 2023 **Charity no** 1196994 **ended (if any) Set out on pages** Trustees’ Annual report and Unaudited Financial Statements **Report to the trustees** I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/08/2023. **Responsibilities and** As the charity's trustees, you are responsible for the preparation of the **basis of report** accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’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 which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did 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. **Date:** 27/03/2025 **Signed: Name:** Alison Price **Relevant professional** FCA **qualification(s) or body (if any):** 1 **Oct 2018** **IER** ## **Address:** TC Group The Nexus Building, Broadway, Letchworth Garden City SG6 9BL ## **Section B Disclosure** Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). **Give here brief details of any items that the examiner wishes to disclose** . 2 **Oct 2018** **IER**