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2024-04-05-accounts

Meifod Preschool

Accounts for the year ended 5th April 2024

Meifod Preschool

Charity Name

Meifod Preschool (Registered 1200041)

Correspondence Address

Meifod Pre-school, The Pre-school Hut, Ysgol Meifod, Meifod, Powys, SY22 6DF

Trustees

Gregory Lee Andrews, Chair of Trustees Amy Louise Jones Emma Joanne Whittall

Bankers

HSBC Bank plc, 23 Broad Street, Welshpool, Powys, SY21 7RN

Independent Examiner

Kim Cleminson-Jones (KC Accountancy Services)

2

Trustees Annual Report for the year ended 5[th] April 2024

History, objectives and activities of the Trust

Meifod-Pre-school was established as a registered charity on 2[nd] March 1994.

The trustees converted the trust body into a charitable incorporated organisation (CIO) during this year.

Both the initial donations and additional funds received since have been under terms which allow the trustees to either retain the amounts as capital or to expend them as revenue.

The rules and constitution give the trustees the power to apply the funds in such a manner as they think fit for the development and education of children under statutory school age. The trustees currently employ a number of staff as a registered employer and operate a pre-school setting.

The trustees identify projects and liabilities they wish to or need to support or meet for the better operation of the service they provide to children, parents or carers. The Trust does not make grants to people or organisations. The Trust also has a policy of refraining from responding to any correspondence or other form of communication unless it relates to the general management of the Trust.

Management and governance arrangements

  1. The rules and constitution dictate that membership shall be open to anyone who has an interest in assisting the Trust to achieve its aim and is willing to adhere to the rules of the Trust.

  2. Where it is considered that membership would be detrimental to the aims and activities of the Trust, the Management Committee shall have the power to refuse membership, or may terminate or suspend the membership of any member by resolution passed at a meeting.

  3. Members shall have the right to appeal via an independent adjudicator determined by mutual agreement of the management committee. Any member of the association may resign his/her membership by providing the Secretary with written notice.

  4. The Trust shall be administered by a management committee of no less than three (3) people and no more than fifteen (15) who must be at least 18 years of age. Members will be elected for a period of up to one year, but may be re-elected at the Trust’s AGM.

Achievements and performance of the Trust

During the year the trust has successfully carried out the promotion of all the objectives set out in the formation document.

Financial review, investment policy and reserves

The trustees do not comment on any financial review nor are they required to (SORP paragraphs 54 and 56).

3

Future Plans

The trustees intend to continue to provide a pre-school setting and to maintain and upgrade the setting premises for the benefit of children under statutory school age and staff, alike.

Statement of trustees’ responsibilities

Charity Law requires the trustees to prepare financial statements for each financial year which show a true and fair view of the state of affairs of the charity and its financial activities for that period. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 1993. They 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.

Independent Examiner

The trustees intend to ask an examiner to undertake the independent examination of the Trust in the following year.

4

Independent examiner's statement CHARITY CI)MMISSION I Independent examinerfs report on the FOR ENGLAND ANO WALES accounts S8ction A Independent Examiner'5 Report Report to th try4teesl membern of Meifod Pre5Gkwl On •c¢ounts for the year •nded OV April 2024 Charity no Ilf anyl 1200041 S¢t out on pago8 l to the trustees on my exarnination ofthe accounts of the above tharity Ilhe Trust'l for th8 yaar ended 0510412023 Responsibllrtie$ and ba818 of report As the ch8rity's trustees. you ar8 respons1￿8 for the preparatv)n oft accounts In accordance with the requ1￿ments of the Charrt￿8 Act 2011 Act'i I repDrt in resped of my examination of the Trust's account$ Carried o under section 145 of the 2011 Act and In canying out my examination. I have followed all the apOl¢a￿e Direction5 given by the Charity Comrnissicn under sedion 1445llbl of the Act. Indgpgnd•nt (The charity's gross in¢ome eX￿d8d £250,000 and l am qualffjed to examinèrfs statoment undertake the exaMinat￿N by being a qualified member of lin5ert name of applicab￿ listed bodyll Deleie I l rfnol •pplK8ble. I have com￿eted my examination. I corfiFrn that no merial matt8r8 have come to Tny attention in ¢onnethon ￿th the examination (other than that disdosed below'l whiGh gwe$ me c2use to believe that in, any rnalerial the accounting record5 were not kept In accorda￿8 Wrth section 130 of the Charrties Act. or the accounts did not ac￿rd with the aGcounting ￿¢OrdS.. or the accounts did not comply with the applicable reqU1￿ments concerning the foTTn atid ¢ontent of accounts set out in the Charities IAccounls and Report51 Regulations 2008 other than any requirernent that th? accounts give a'lrue and fair, VEW which 18 Mt a matter considered a$ part of an independent examinatron. I have no concerns ancj have corne across no other matters in connection th the examination to whith attentnn should be drawn in this ￿port In order lo enable a proper understanding of the accounts to be oa¢W. ' Please debte the wonys in the b￿CkelS If they do apply. Slgned-. ZOL Name.. R•levant profes8ion81 qualifi¢ationl$l or body hfi IER Oet 2018

lit anyl.. Addre¥¥.' Section B Disclosurt Only complete if the exatniner needs to highlight malellal rnatters of COn￿M Isee CC32 Independent examination of charity 8ccounls.' directlOn5 and guKJan¢e for examir￿rSl. Give hero brief de¢•il• of any Items that the •xamln•r wl8h08 to IER Oct 2018

INDEPENDENT EXAMINERS REPORTTO MelAodPresd￿l I reportto the trustee50n my examination of the account50f Merfod Preschool ItheTrustl for the yearenoed 5 April 2024 Re5PÈrtl¥e responslbllltle50f trustee5 and examlney As the charity trustee5 you are responslble for rhe preparation of the accounts in accordance with the requirements of the Charitie5 Act 2011 Ithe Acrl- I repDrt in rE5p￿ of my examinatkin of the TrusV54tt0unts carried out vndersection 145 ofthe 2011 Att and In (arrying out myexamination I have folbwed the applicèbk dlrectlons gfven by the Charity Commis%on under section 145I5llbl of the Act. ThÈ trustee'scon5ider that an audft is not required forthis year undersECt￿n 144121 of the Charities AL* 2011 and that an IndepEDdent Examination is needed. Independent examlnerfs statement In connection with my examinatlon, no marrer ha5 come to my attention., 111 Which g￿e$ me reasonable cause to believe that in any material respect rhe ￿qUIreMentS a. To keep accounting record5 in accordance with section 130 of the 2011 Act,. and b. To prepare accounts whith accord With the accounting record5 and comply with the accovnring requirement5 of the 2011 Act have not been met, or 121 To which, in my opinion, attention should be drawn in orderto establish a proper understanding of the accountsto be reachèd. Si8ned.. Name.. Relevant Membership of Profesyonal Body.. TeL01691674792 email. Info@kcaccounianwrvice&co.uk kcaccountancyservices.co.uk KCAccountancy SpTvic•S Youth &Communitycentr Hi9h Street, Llanfyllin

Meifod Pre-school
Statement Of Financial Actvites For The Year Ended 5th April
2024
Note
s
Year to 05/04/2024 Year to 05/04/2023
Incoming Resources
Incoming Resources From
Generated Funds
• Fees 1 £8,351.29 £6,494.27
• Funding& Grants 2 £40,806.44 £40,498.98
• TrainingFunds 3 -
• Fundraisingincludingactvites 4 £799.59 £838.00
• Donatons 5 £109.00 £200.00
• Food Provisions(snack and meal fees) £601.00
• Interest Received(Gross) £
-
Total IncomingResources £50,667.32 £48,031.25
Resources Expended
Cost Actvites

• Snacks & foodprovisions
£1,517.49
• Accommodaton,facilites & resources £7,059.96 £6,711.62
• Miscellaneous - -
• Actvites £866.37
Costs Of Operatons
• Employment Costs £44,009.59 £37,065.29
• Governance Costs £759.04 £818.03
• Bank Charges £60.40 £60.80
• Communicatons £560.04
Total Resources Expended £54,832.89 £44,655.74
Net IncomingResources -£4,165.57 £3,375.51
Petycash over by (when banked) £19.67
Debt frompreviousyear -£941.00
Reconciliaton Of Funds
Funds Brought Forward £31,160.95 £27,785.44
Funds Carried Forward £26,074.05 £31,160.95

8

Notes to The Accounts

1. Accounting Policies

In preparing the accounts the following accounting policies have been complied with:

2.

Taxation

The trust is a registered charity and accordingly it is exempt from taxation on its income other than trading income. The trust did not carry out any trade activities which could be deemed taxable in the year to 5[th] April 2024. Donations, sponsorship and other receipts generally are treated as non-taxable where they are applied for charitable purposes.

3. Related Party Transactions

4. Fees

Fees were incurred by individuals on the understanding that any unpaid funds should be accumulated in the trust accounts and payment should be requested at the discretion of the trustees. The sums received were:

Fees
2+
3+
Aferschool Club
Snack money
Bad debt write of
£2,347.79
£5,134.50
£869.00
£601.00
£8,952.29

11

5. Funding

Funding was received from Powys and Ceredigion County Councils. Additionally, two payments were received from Action For Children.

Funding
Funding Payments Received
Powys CountyCouncil 28/04/2023 £7,040.50
29/08/2023 £250.00
13/09/2023 £5,607.85
11/12/2023 £3,531.81
29/01/2024 £4,205.89
02/02/2024 £165.81
06/03/2023 £500.00
28/03/2024 £2,973.00
£24,274.86
Acton For Children 02/06/2023 £666.20
01/09/2023 £817.88
£1,484.08
Ceredigion CountyCouncil 12/04/2023 £500.00

12

16/05/2023 £250.00
11/07/2023 £1,000
12/09/2023 £1,387.50
£3,137.50
Total £28,896.44
Grants Payments Received
Welsh Government 10/05/2023 £300
30/05/2023 £300
14/06/2023 £100
26/06/2024 £200.00
06/07/2023 £200.00
21/07/2023 £400.00
23/08/2023 £950.00
13/10/2023 £2,200.00
31/10/2023 £780.00
14/11/2023 £440.00
22/11/2023 £340.00
28/12/2023 £1,700.00
15/01/2024 £340.00
01/02/2024 £1,260.00
29/02/2024 £1,480.00
18/03/2024 £920
Total: £11,910
Total funding andgrants £40,806.44

6. Training Funds

No funding was received to cover the costs associated with staff training.

13

7. Fundraising

During the year the following amount were credited as fundraising:

Fundraising
Internal fundraising Sponsor 25/05/2023 £40.00
Sponsor 25/05/2023 £35.00
Sponsor 25/05/2023 £50.00
Sponsor 25/05/2023 £115.00
Sponsor 25/05/2023 £12.00
Sponsor 25/05/2023 £18.00
Sponsor 25/05/2023 £20.00
Sponsor 25/05/2023 £100.00
Sponsorship12/06/2023 £50.00
Rafe 13/11/2023 £20.00
Rafe 15/11/2023 £5.00
Rafe 18/12/2023 £10.00
Rafe 18/12/2023 £50.00
Meifod Show(cheque)07/11/2023 £50.00
£575.00
Powys Loto 10/05/2023 £16
13/06/2023 £17.00
11/07/2023 £12.00
07/08/2023 -£20.00
08/08/2023 £15.00
05/09/2023 £12.00
03/10/2023 £11.00
14/11/2023 £10.00
12/12/2023 £8.00
09/01/2024 £8.00
21/02/2024 £10.00
19/03/2024 £8.00
04/04/2024 £6.00
£113.00

14

Alphagraphics 17/01/2024 £41.01
Total £729.01

8. Donations

During the year the following amount were credited as Donations:

Donations

15/04/2023 Hoodie
15/04/2023 Hoodie
19/04/2023 Hoodie
19/04/2023 Hoodie
23/04/2023 2 x Hoodie
09/05/2023 Hoodie
21/07/2023 Hoodie
17/10/2023 Hoodie
£12
£12
£12
£12
£24
£12.00
£12.00
£13.00
£109

07/11/2023 - First place for float at Meifod Carnival £50.00 Cheque £50.00

9. Interest Received (Gross)

No bank interest was accrued or credited.

15

10. Accommodation, Facility & Resource costs

Accomodation, Facilities & Resources

Lease*
Website & Telephones
Resources
Accomodaton - Repairs & Improvements
ActvitIes
Hot meals & food provision
Professional Fees
-
£891.04
£6,512.52
-
£810.79
£1,517.49
£664.20
£ 10,396.04

11. Employment Costs

Employment costs were incurred as follows:

Employment Costs

Wages
(Staf Salaries - Net)
HMRC
(Direct Taxaton & Employers Natonal Insurance)
Pension Contributons
(Nest)
Training
Total
£39,900.95
£2,559.48
£1,549.16
£216.00
£ 44,225.59

12. Governance Costs

16

The costs of meeting the trust’s legal obligations and in operating a payroll and engaging staff were as follows:

Governance Costs

Business and Employer Insurances
(Towergate Insurance Brokers)
DBS
ICO - GDPR
CIO - medical
Payroll/Accountacy Fees
(Morgan Grifths LLP)
Total
£310.84
£53.20
£35.00
£360
£ 759.04

13. Analysis of Debtors

There were no debtors as of 5[th] April 2024.

14. Analysis of Creditors

There were no creditors as at 5[th] April 2024.

15. Analysis of Fund Assets and Liabilities

Closing Bank Balances

HSBC Bank plc (40-30-11) 01029878 charitable main £25,965.60

17

Meifod Pre-school
Balance Sheet For The Year Ended 5th April
2024
Note
s
Year to 05/04/2024 Year to
05/04/2023
Fixed Assets
• Investments £ - £
-
• Tangibles £ - £
-
£ - £
-
Current Assets
• Cash At Bank £25,965.60 £30,149.64
• Cash In Hand £108.45 £70.31
£26,074.05
Debtors: Amounts Falling Due
Within One Year £941.00
Net Current Assets £26,074.05 £31,160.95
Net Assets £26,074.05 £31,160.95
Represented By
Restricted Fund £10,225.92 £10,225.92
Unrestricted Fund £15,848.13 £20,935.03
Total Funds £26,074.05 £31,160.95

19

The unrestricted funds of the trust may be applied for any purpose set out in the Trustees’ Annual Report at the discretion of the trustees. The restricted funds held must be disbursed on capital expenditure pertaining to the improvement or replacement of toilet and related plumbing expenditure.

20

CHARITY COMMISSION FOR ENGLAND AND WALES Trustees, Annual Roport for tho perfod From 6th Aprfl 2023 to 51h April 2024 Charlty nam•: V￿rfOd Preschool Charlty roglstratlon numbor. 1200041 Objectlves and AGllvltles SLrnmary ol th8 of the ch￿ty 88 86t out in Ila ern ¢um8nt SL$mM￿ of the man acIN￿88 In relalknn b) Ihoae wrposes for the public bMgfrt, in partiGul8r. th6 8otwities. propGts c servtO8 JenOflwJ In tr counts. Maifod Pw¢WI * l¢NJ Il•t•bllih￿ ¢lld¢or• •vJ p1H¢￿ ••wi￿ Nn throwJh of ÉrvJll•h. for ￿ to 16 We are 8 cNkl.kd seltirKJ. thor• eNdr￿ m&k• cknk•s rttsuI thry m ID a w8y that ig ￿[fr$ll¢ to th￿. W• prhJ•O￿s81¥ss on t￿ lri•vJlinoss erflklwry of owJtalf arKI thal ovwyone ￿1¢0M•. W• ar• an 4)prov&J sottiNJ lor Furd•J Ewty Y•m Ed￿￿10n for 3ew- C￿S Childcw¥ olfer Wths. We lo provid• a happy. saf• 8TrJ 8￿ur8 wNkonmw. ¥h￿ch pronxJteB lewriro thrO￿h p. lor dl CNIOM 8tt8rdlr4J ow 8888lor. W• provhJ•8 w￿0 vkny of twiti"￿. ir¢1￿• Nunton, LT. pwrtitvJ. yoga. pl•Jl dough ¢18y, 8tonw. 8OtvJg mu8k, 8aThJ, • and 8mal toys. 4nd opporhxitw for pIIy8kd play ift8￿• outsk10. We provfvaoaft Introduction to kMord8 in Wd8h. W• Il ￿ •ql4pr#￿I eg98ry to njn efIK￿nuY aThJ s￿f￿lY ￿ hwe eXpwlw￿o of belNJ kry #tabl18￿. W• •0 h￿• good link$ ith Y•gol Mdfod, t1￿ kjcal Effalvjh m•di￿n Primary Sd￿01. This PrnvK1￿ outdoorpl •m for w• duriry our seB¥iorn. Wle coordinale vl8it8 10 tho pthmiry S¢￿01 to hulp pr8P￿ Chi￿r8n for Sd￿011rf8. TherB Int•3rstJ transltion for ch'klron du Ihe t￿ bdowB t Btart scklol. tn&•twu al Sign d￿l￿b)n Io say It we o tho i•u&J by ¢P1ty eommkn•h) Statement conflmiirKJ whelhw the trustees have h&J r&awd to 9￿Jance 21

Achlevemonts and Porforrnanco 22

Lrnmary ema h￿Verne￿ts ol th8 charity, hJentKylng thè drffwO￿8 the charlty's work hBs made lo ihe circum5￿CeS of its b8ngficiark•a wy wthr b8n8fits to Sc￿￿ as a 8etUry gblè to iry)ut toplcs aNJ plwThThJ. Tr 5etllng folk)W& Ihe nw4 %4ei$h ¢urTIcLrfLffi and use5 8 Child4￿ eih)8 The Irftino has f￿f￿W 4lowiry tho chlbJr•n to bs iThJooror OLrtdoDr. l ar￿ In ￿ 8gtlirwJ arp gvaL8b to 1 chudr￿. Ffv841ow cw bo dep8ndtt on %4wthw. 141811 have opporf4vlty lo pl￿ xtfvlllg• •vJ maet r89thty to d￿e￿a Ihe dWdreD'¥ InlqrBSt In to pkn lor l¢Wo•YJ wk. 711. Ihe 8OttlrJ h91 gw4n ataff. cNldrEngr¥l parnrts opportur4iies to b• 14111 lh• eWr8n opportknll88 for ouidoor ploy. P￿108 of we ￿101+￿ lo • clos•Y 80¢￿1 p￿e so Ihat 9Nen opportiirwtw to p￿t￿lp￿te l• dllfeth act￿￿￿8. Llhaf I￿• lh• th>￿ti dalty of Mini- kle yoga. slalf on iTrlning for, Buyjy fa81 aTrY St￿kY kkls. Th settiw woA(¥ ¢lp8 hedlh vl•rtorn. sp￿h 8TrJ iar¥Ju•ge xtKn for ¢hlren. Tr 8ettkna lewl•r&ii•ThJs TAF rTr•etiryJ8 and cNldM'B T￿ setlry •n8w•J ¢N￿rnn on p￿onI IW9qA8. Rul8r stsfl M￿￿r•Jo appnli41tt Ar• c0Th1￿1￿3. sthlf 14lt comfortable te Al Bt4ff am WJ to daio T￿th t￿r Saf•Ju•rdirq trnT¥. Tho •￿tI￿ difjplays • p¢•wIth p￿t06 of tr• kry•d• • ¢0m￿l plKw num)•rlor Poy8 Fror•l Door. ￿ rnl•Y¥l• h•v• b d• IN8 yew. TN• ••ttiNJ 8 6•18guwdirvJ polw am wthlstl• poltcy 1nplx4¢h IB r••J •har•J by parnts. Flnanclal Revlew Rev1￿ of fv eharity fonanckl Fcduon at of the AI of th• wortlry p•lod IM hdd £28,074.05 h th• b•. £10.&0 of fwYJ• w41gbl8 amourrt ol £15.808.c6. Tho y•w lrtome of £50.067.32 1ft)m gTw¥. feej 4wwJ but ilh m•Joliiy1£410.￿.44l G•mity f￿rn chldcw• fundiry. There £54.&32.89 of •xpenditurn d￿ry yewwtiich IKl¢A•J rox)¥￿￿ forthe Ghildrw. lood, Ir4irMrwJ govemBrthry G08ts bth the ottrlbul)le to g18lf Reserve¥ hekl In ordw lo coThtinu8 to prov￿8 shoJd wular 4￿m0 belng s￿￿ •• a y• of rwbqrt orI￿real•) CO8t8. 10. statemenl exF4v4Fung pdiey f¢x Wing reBw¥es th are hèkl Amount of resejves hekl LY ￿)id1r￿J zero Mst reseTVèB Detsib rf Yund matwl* In defki PWA 23

Structurn, Governance and Managemont escriptlon ovemln How is tha charty constituted? Trust88 $818ctk)n mattKMIs includiry detaiLs of ary constitLrtion4 provbns e.g. election to Post or name of any parson crf body entiiled to aFpJint one ty more dc¢um8nt col￿titUtIOn CK) PA8Mb￿Np h op8n to h• ￿ Int8rn•t In •••L•tlrwJ the To￿t lo Its 18 illiThJ to •Jhere to thè rul89 of th• il l• ¢orrfldw•d Ihot M￿￿¢￿14p bo ¢J¢lrfmfyffal to the ms And xtlvltlos ol th8 Trujt, th• Mw48m8nt GimmKt•e h8v• the pow to refu88 memb*sI￿p, or termingto of ts￿p￿J the membernlyp of mernber by resolvbon paSs￿j at 8 meBtiro. The Tnjgt Is xlrnlnlltered by a commitleg of ttrno peopl• ovw 18 Y￿r$ of •J¢. Mwnbers ele¢led at the AGM lor a pwh)d of w to yogr bul may be Tw18ct￿. Reference and Admlnlstrative dots118 nome ther name charity uses istef nL arty s pnncipal oa Prn8¢h)o 12C(¥)41 Th8 Prtr8cMol Ysgol MeAlod Merfod Powy8 SYf2 60F 24

Declarations Tha trusto0• declaro th•t thy havo approvod tho trust*•' report above. Slgnod on behalf of the charlty's trust Signatur•(•) Full n•M(s) Èfo£k/ Posttlon (•g S•ry91￿, Chalr. ¢tc) Ih41 25

Meifod Playgroup

Income & Expenditure 06/04/2023 to 05/04/2024

INCOME

EXPENDITURE

Fees 2+ 2,347.79
Fees 3+ 5,134.50
Fees-ASC 869.00
Funding 3+ 28,896.44
Training Funds 0.00
Fundraising & Donations 788.01
Activities & Photos 120.58
Food provisions 601.00
Grants 11,910.00
Food provisions 1,159.82
Provision of hot meals 357.67
Lease 0.00
Communications 560.04
Resources 6,512.52
Training 0.00
Accomodation - Repairs &
Improvements
0.00
Professional Fees & Training 995.64
Insurance 310.84
Employment Costs 39,900.95
PAYE/NIC 2,559.48
Pension 1,549.16
Activities & Photos 866.37
Bank Charges & Interest 60.40
£50,667.3
2
£54,832.8
9
BANK ACCOUNT
06/04/2023 to 05/04/2024
Opening bank balance as at
05/04/2023
£30,149.6
4
Closing bank balance as at 31/08/2023
£24,099.5
0
Opening bank balance as at
05/04/2023
£30,149.6
4
Petty Cash
£0.00
Opening bank balance as at £30,149.6
05/04/2023 4
Petty Cash £0.00

26

Opening bank balance 05/04/2023
Plus income
Minus Expenditure
Plus Petty cash opening amount
Plus Petty cash amount over when banked
Difference
Closing bank Balance as at
05/04/2024
Petty Cash
Petty Cash held by Preschool
Total
Opening bank balance 05/04/2023
Plus income
Minus Expenditure
Plus Petty cash opening amount
Plus Petty cash amount over when banked
Difference
Closing bank Balance as at
05/04/2024
Petty Cash
Petty Cash held by Preschool
Total
£26,074.0
5

27