Trustees’ Annual Report for the period 1 August 2023 to 31 March 2024
Charity name: The Valley Preschool
Charity registration number: 1200688
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | The aims of the pre-school are to enhance the development and education of local children primarily under statutory school age, also encouraging parents to understand and provide for the needs of their children. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
The preschool offers appropriate play, education and care facilities, family learning and extended hours ensuring that such opportunities are extended for all children whatever their race, culture, religion, means or ability. We additionally encourage the study of the needs of children and their families and promote public interest in and recognition of such needs within the local areas. As part of this work we instigate and adhere to the Statutory Framework for the Early Years Foundation Stage. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The Trustees have had regard to the Charity Commission’s guidance on public benefit. |
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | We finalised the steps needed to become a CIO and formally transitioned to operating from the new charity set up as part of this change on 22 February 2024. The primary focus for the period of this report was to transition into the new organisation successfully, continuing to focus on providing a vibrant, fun and engaging setting for the children in our care, welcoming new children into the setting and promoting positive working relationships with their families, our community and the children’s prospective onward educational settings. |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | The preschool’s income for the period was £3,2k and its expenditure was £21.2k. However, the new CIO became operational on 23rdFebruary 2024 so the income and expenditure up until this date has been reported under the old charity (number 1067045). The total assets transferred from the old to the new charity amounted to £163,882.29. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | The current Reserves Policy is attached to this report. |
| Amount of reserves held | Para 1.22 | The balance in reserves at 31stMarch 2024 was £145,842.73. |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | N/A |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | N/A |
Additional information (optional)
You may choose to include further statements where relevant about:
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | The preschool receives the majority of its income from fee and grant income and a substantial amount of its annual outgoings is on staffing costs. The preschool is operating with a healthy reserve fund and this is improved with each operating year. |
|---|---|---|
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 |
Constitution of a Charitable Incorporated Organisation whose only voting members are its charity trustees. |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | CIO |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Provided Trustees are eligible for Trusteeship in accordance with our Constitution, Trustees are appointed by a resolution passed at a properly convened meeting of the charity trustees. |
Reference and Administrative details
| Charity name | The Valley Preschool |
|---|---|
| Other name the charity uses | N/A |
| Registered charitynumber | 1200688 |
| Charity’s principal address | Meonstoke Infant School Chapel Road Meonstoke Southampton SO32 3NJ |
Names of the charity trustees who manage the charity
| Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (if any) |
|---|---|---|---|
| Jessica Bassett | 2023/2024 | ||
| Gemma Ingham | 2023/2024 | ||
| Ruth Voice | 2023/2024 | ||
| Lynette Davis | 2023/2024 | ||
| Charlotte Walls- Hardiman |
2023/2024 |
Name of trustees holding title to property belonging to the charity
| Trustee name | Dates acted if not for whole year | |
|---|---|---|
| N/A all assets are held by the Charity directly. Existing assets were transferred as part of our transition to become a CIO. |
Funds held as custodian trustees on behalf of others
Description of the assets N/A held in this capacity Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets
Exemptions from disclosure
Reason for non-disclosure of key personnel details
N/A
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s) Full name(s) Charlotte Walls-Hardiman Position (eg Secretary, Chair Chair, etc) Date 15 January 2025
| FORTHE | 8 MONTHPERI | OD ENDING31MARCH2024 | ||
|---|---|---|---|---|
| Actual | ||||
| Periodto3lMar 24 | ||||
| E2 | ||||
| RECEIPTS&PAYMENTS ACCOUNT | ||||
| TradlnEActtutti,es | ||||
| Reeipts | Fee& Grantlncome | 2,176.30 | ||
| Banklnterest | 61.93 | |||
| 2,238.23 | ||||
| Payments | StaffingCosts | 10,876.80 | ||
| PensionContributions | (41.63) | |||
| Training | 114.00 | |||
| PayrollAdministration | 214.20 | |||
| Cleaning | 215.42 | |||
| Accountan€y | 160.00 | |||
| Telephone&Broadband | 150.57 | |||
| Building&PLAlnsurance | ||||
| Repair& Maintenance | 40.00 | |||
| SanitaryBinSeruices | ||||
| Contributionto MeonstokeSchool | 8,505.50 | |||
| Photocopying | 62.82 | |||
| AnnualFees&Subscriptions | 389.81 | |||
| Advertising | ||||
| Supplies - Educational | 126.84 | |||
| Supplies-General | 272.75 | |||
| Refreshments/Snacks-children | 49.58 | |||
| Refreshmentt-Staff | 10.50 | |||
| Bank Charges | 74.97 | |||
| 21,t72.53 | ||||
| NetReceiptsfrom Trading Adivities | (1E,934.30) | |||
| Fixed ContributionsbReserves | ||||
| Fundraising Reserue | ||||
| Grant Reserye | ||||
| guilding Renewals Reserue | ||||
| Asset Replacement Reserue | ||||
| 0-00 | ||||
| Available | NetReceiptsfrom Tradiry Activities | {18,934.30) | ||
| TransactionsthroughReserves | ||||
| NetReceiptsinto: | Grant ReseNe | 800.00 | ||
| Building Renewals Reserye | ||||
| Fundraising Reserue | 114.60 | |||
| Asset RePlacement Reserve | ||||
| 914.50 | ||||
| Paymens | fundedfrm: | Grant Reserue | ||
| Building Renewals Reserue | ||||
| Fundraising Reserue | 19.86 | |||
| Asset Replacement Reserue | ||||
| 19.86 | ||||
| 894.74 | ||||
| TotalNet | Receipts | (1&03e.s6) | ||
| STATEMENTOF ASSETS | &TIABITITIES | |||
| CurrentAssets | ||||
| Savings Account | Building Renewals Reserue | 68,722.92 | ||
| FundraisingReserue | 72,419.78 | |||
| Grant Reserve | 2,654.66 | |||
| WorkingBalance Reserue | 34,t96.67 | |||
| Asset Replacement Reserue | 10,934.85 | |||
| General Reserve | 9,253.46 | |||
| 138,182.34 | ||||
| CurrentAccount-Lloyds | 5,574.77 | |||
| Current Account-co-operative | 2p04.s7 | |||
| 7,579.34 | ||||
| PettyCash | 81.05 | |||
| Net Assets | L45,8/.2.73 | |||
| Reconciliation ofNetAsse6 | ||||
| Opening | Capital | 163,882.29 | ||
| NetReceipts | (18,039.s6) | |||
| 145,842.73 |