**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|