2024-12-31-accounts - Little Saplings Preschool

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Docusign Envelope ID: 184B3B7E-7C29-4F0A-8E7F-C27E0583A6C5

Little Saplings Preschool The Street Lawshall Bury St Edmunds Suffolk IP29 4QA

Trustees’ Annual Report

For the Period Ended 31 December 2024

Objectives and Activities

Charitable Objects

The charity’s objectives, as set out in its governing document, are to advance the education and development of children aged two to five years by providing high-quality, affordable early years education and care.

During the period, the charity met its charitable objectives by carrying out the following activities:

Delivering play-based learning in line with the Early Years Foundation Stage (EYFS) framework.
Supporting children’s development in communication, language, physical and social skills.
Offering inclusive childcare accessible to children of all backgrounds and needs.
Working closely with families and local agencies to support children’s welfare and development.

The preschool operates during term time including wrap around care, employing qualified early years staff and is supported by the Committee.

Achievements and Performance

The preschool was initially set up in December 2023 and welcomed children into the setting at the beginning of the Summer term in April 2024 following registration with Ofsted. Key achievements over the period to December 2024 include:

Welcoming our children into the new setting.
Transitioning children into primary school education for the 2024/2025 academic year.
Employing our early years staff, completing relevant training and supporting staff through apprenticeships.
Establishing policies for safeguarding, health and safety and SEND.

Charity number - 1206048

Docusign Envelope ID: 184B3B7E-7C29-4F0A-8E7F-C27E0583A6C5

Building strong relationships with parents and local support services.

Feedback from parents has been positive and demand for places is growing with a steady increase in children attending the setting into 2025.

Financial Review

Summary

The period ending 31 December 2024 is the first accounting period for the charity having registered as a Charitable Incorporated Organisation on 4 December 2023.

Total income was £68,522 comprising of fees received from parents and Government funding for children attending the setting (£54,357), income from fundraising activities (£7,275) and grants and donations received (£6,920).

Expenditure amounted to £60,561 comprising of staff cost, premises costs and other expenses such as administrative costs, professional fees and governance costs.

A total surplus of £7,991 was generated for the period.

We are honored to have received a donation from Ladybird’s Preschool of £1,400 during the year which will be used to fund SEND specialist equipment and related activities for our children.

We are deeply grateful to all of our donors, whose generous contributions have funded the initial costs of getting the preschool established over our first period of operating – support without which the charity would not have been able to open its doors.

Reserves Policy

The Committee aims to establish free reserves sufficient to cover three months of core operating costs, currently estimated at £30,000.

Going Concern

At the end of the period, the charity’s unrestricted reserves were below the target level set out in the Reserves Policy. As a newly established charity, building up reserves remains a key priority for the Committee. Encouraging progress was made during the period, with unrestricted reserves reaching £6,591 by the year end. Strengthening the charity’s reserves will continue to be a major focus in 2025 and future years.

The preschool continues to experience stable and strong demand for childcare places into 2025. On this basis, the Committee considers the charity to be a going concern.

Structure, Governance, and Management

Constitution

Little Saplings Preschool is a registered charity governed by a constitution adopted on 4 December 2023. It is run by a board of volunteer trustees, known collectively as the Committee.

Charity number - 1206048

Docusign Envelope ID: 184B3B7E-7C29-4F0A-8E7F-C27E0583A6C5

Trustee Recruitment and Appointment

Trustees are appointed according to the charity's constitution. In this first year, the founding trustees were appointed on registration. Subsequent and future recruitment is aimed at ensuring a diversity of skills and experience with a focus on recruiting parents of children attending the setting.

New Trustees are provided with a welcome pack on appointment containing the constitution document amongst other documents. All new Trustees are required to have a recent Disclosure and Barring Service (DBS) check and acceptance from Ofsted of their appointment before officially joining the Committee.

Management

The day-to-day management of the preschool is delegated to a Manager, overseen by the Committee. The Committee meets with the Manager every term to oversee finances, safeguarding and strategic direction. The Chairwoman meets regularly with the Manager to deal with current issues when extra support and supervision is necessary.

Public Benefit Statement

The trustees confirm they have had due regard to the Charity Commission’s guidance on public benefit when planning and delivering the charity’s activities. The provision of affordable early years education supports children’s development and provides essential support for families, particularly those in financial hardship.

Declaration

This report was approved by the Committee on 8 September 2025 and signed on their behalf by:

Kimberly May Dennis Chairperson

Charity number - 1206048

LITTLE SAPLINGS PRESCHOOL

Charity No. 1206048

Company No. CE034522

Trustee's Report and Unaudited Accounts

31 December 2024

LITTLE SAPLINGS PRESCHOOL Contents

	Pages
Trustee's Annual Report	1 to 1
Statement of Financial Activities	2 to 2
Summary Income and Expenditure Account	3 to 3
Balance Sheet	4 to 4
Statement of Cash flows	5 to 5
Notes to the Accounts	6 to 6
Detailed Statement of Financial Activities	7

Page 1

LITTLE SAPLINGS PRESCHOOL Trustees Annual Report

The trustee, who is also a director of the charity for the purposes of the Companies Act 2006, presents their report with the unaudited financial statements of the charity for the period ended 31 December 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. CE034522

Charity No. 1206048

Principal Office

All Saints CEVC Primary Scho The Street Lawshall BURY ST EDMUNDS IP29 4QA

Registered Office

GRIT Financials Limited Dartford Business Park Dartford DA1 5FS

Director and Trustee

The Director of the charitable company are its Trustee for the purposes of charity law. The following Director and Trustee served during the year:

C.E. Warner

Key Management Personnel

Key Management Personnel
Chair Trustee	Carly Elizabeth Strause
Trustee	Kelly V Chapman
Trustee	Sarah R Klimowicz
Trustee	Jacqueline A Ward
Trustee	Katherine Dawn Reavill
Trustee	Evelyn Helmi Jones

Accountants

GRIT FINANCIALS LIMITED Dartford Business Park Victoria Road Dartford DA1 5FS

The Trustee is responsible for keeping proper accounting records that 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 Companies Act 2006. The Trustee is also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 2

LITTLE SAPLINGS PRESCHOOL Trustees Annual Report

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

C.E. Warner

Trustee

31 December 2024

Page 3

LITTLE SAPLINGS PRESCHOOL Statement of Financial Activities

for the period ended 31 December 2024

Unrestricted funds 2024 £ 6,920 54,357 7,275	Restricted funds 2024 £ - - -	Total funds 2024 £ 6,920 54,357 7,275
68,552 746 2,426 57,389	- - - -	68,552 746 2,426 57,389
60,561 -	- -	60,561 -
7,991 (1,400)	- 1,400	7,991 -
6,591	1,400	7,991
6,591	1,400	7,991
6,591	1,400	7,991

Page 4

LITTLE SAPLINGS PRESCHOOL Summary Income and Expenditure Account

for the period ended 31 December 2024

Income Gross income for the period Expenditure Total expenditure for the period Net income before tax for the period Net income for the period	2024 £ 68,552
	68,552
	60,561
	60,561
	7,991
	7,991

Page 5

LITTLE SAPLINGS PRESCHOOL Balance Sheet

at 31 December 2024

at 31 December 2024
Company No. CE034522	Notes	2024
		£
Current assets
Cash at bank and in hand		12,380
		12,380
Creditors:Amount falling due within one year	11	(4,389)
Net current assets		7,991
Total assets less current liabilities		7,991
Net assets excluding pension asset or liability		7,991
Total net assets		7,991
The funds of the charity
Restricted funds	12
Restricted income funds		1,400
		1,400
Unrestricted funds	12
General funds		6,591
		6,591
Reserves	12
Total funds		7,991

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the period ended 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 31 December 2024

And signed on its behalf by:

C.E. Warner Trustee 31 December 2024

Page 6

LITTLE SAPLINGS PRESCHOOL Notes to the Accounts

for the period ended 31 December 2024

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 7

LITTLE SAPLINGS PRESCHOOL Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 8

LITTLE SAPLINGS PRESCHOOL Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

Page 9

LITTLE SAPLINGS PRESCHOOL

Notes to the Accounts

3 Statement of Financial Activities - prior year

Income and endowments from: Charitable activities Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds carried forward	Restricted funds £ 1,400 1,400 1,400 1,400 1,400 1,400	Total funds £ 1,400
		1,400
		1,400
		1,400
		1,400
		1,400

4 Income from donations and legacies

4 Income from donations and legacies
5 Income from charitable activities 6 Other income	Unrestricted £ 6,920 6,920 Unrestricted £ 711 53,646 54,357 Unrestricted £ 7,275 7,275	Total 2024 £ 6,920
		6,920
		Total 2024 £ 711 53,646
		54,357
		Total 2024 £ 7,275
		7,275

Page 10

LITTLE SAPLINGS PRESCHOOL Notes to the Accounts

7 Expenditure on raising funds

Fundraising trading costs 8 Expenditure on charitable activities Expenditure on charitable activities Governance costs 9 Other expenditure Employee costs Premises costs General administrative costs Legal and professional costs 10 Staff costs Salaries and wages Pension costs No employee received emoluments in excess of £60,000. 11 Creditors: amounts falling due within one year Trade creditors Other taxes and social security Other creditors	Unrestricted £ 63 683 746 Unrestricted £ 452 1,974 2,426 Unrestricted £ 50 48,963 3,390 3,516 1,470 57,389 2024 47,475 326 47,801 2024 £ 1,532 2,686 171 4,389	Total 2024 £ 63 683
		746
		Total 2024 £ 452 1,974
		2,426
		Total 2024 £ 50 48,963 3,390 3,516 1,470
		57,389

Page 11

LITTLE SAPLINGS PRESCHOOL Notes to the Accounts

12 Movement in funds

Resources expended £	Gross transfers £ 1,400 1,400 (1,400) - Unrestricted funds £ 7,991 7,991 Cash flows £	At 31 December 2024 £ 1,400
-
- (60,561) (60,561)
		1,400
		6,591
		7,991
		Total £ 7,991
		7,991
		At 31 December 2024 £
	12,380	12,380
	12,380 12,380	12,380
		12,380

Page 12

LITTLE SAPLINGS PRESCHOOL Notes to the Accounts

15 Commitments

Operating lease commitments

Annual commitments under non-cancellable operating leases are as follows:

	2024	2024
	Land and buildings	Other
	£	£
Operating leases with expiry date:
*Pension commitments*
		2024
		£
The pension cost charge to the company
amounted to:		326

16 Related party disclosures Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 13

LITTLE SAPLINGS PRESCHOOL Detailed Statement of Financial Activities

for the period ended 31 December 2024

Income and endowments from: Donations and legacies Charitable activities Other Total income and endowments Expenditure on: Costs of other trading activities Total of expenditure on raising funds Charitable activities Total of expenditure on charitable activities Other expenditure Employee costs Salaries/wages Pension costs Staff training Staff welfare Premises costs Rent Rates Light, heat and power Premises cleaning	Unrestricte d funds 2024 £ 6,920 6,920 711 53,646 54,357 7,275 7,275 68,552 63 683 746 746 452 1,974 2,426 2,426 50 50 47,475 326 1,018 144 48,963 2,250 21 788 331	Restricted funds 2024 £ - - - - - - - - - - - - - - - - - - - - - - - - - - -	Total funds 2024 £ 6,920
			6,920
			711 53,646
			54,357
			7,275
			7,275
			68,552 63 683
			746
			746 452 1,974
			2,426
			2,426 50
			50
			47,475 326 1,018 144
			48,963
			2,250 21 788 331

Page 14

LITTLE SAPLINGS PRESCHOOL Detailed Statement of Financial Activities

General administrative costs, including depreciation and amortisation Equipment expensed Equipment repairs and maintenance General insurances Software, IT support and related costs Stationery and printing Subscriptions Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Consultancy fees Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net income Transfers between funds Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	3,390 1,155 158 248 186 293 130 934 412 3,516 1,078 132 260 1,470 57,389 60,561 - 7,991 (1,400) 6,591 - 6,591 - 6,591	- - - - - - - - - - - - - - - - - - 1,400 1,400 - 1,400 - 1,400	3,390
			1,155 158 248 186 293 130 934 412
			3,516
			1,078 132 260
			1,470

			57,389
			60,561 -
			7,991 -
			7,991 -
			7,991
			-
			7,991

Page 15

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF LITTLE SAPLINGS PRESCHOOL Charity No. 1206048

I report on the accounts of LITTLE SAPLINGS PRESCHOOL for the year ended 2024, which comprise the Statement of Financial Activities and the Balance Sheet, and related notes.

Responsibilities and basis of report

As the charity’s trustees, you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (“the Act”).

I have been appointed as independent examiner under section 145 of the Act and report in respect of my examination of the charity’s accounts carried out under section 145 and in accordance with the general Directions given by the Charity Commission.

My examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records.

It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters.

Independent examiner’s statement

Based on my examination, nothing has come to my attention that gives me cause to believe that:

The accounting records were not kept in accordance with section 130 of the Charities Act 2011; or
The accounts do not accord with the accounting records; or
The accounts do not comply with the applicable requirements of the Charities Act 2011.

I have no concerns and no matters to draw to the attention of the trustees in this report.

GRIT Financials Limited Narendran Rajenthiran FCCA Dartford Business Park Victoria Road Kent DA1 5FS

20th October 2025

Registered address and number

C/O Grit Financials Limited, Victoria Road, Dartford, Kent, England, DA1 5FS

15088068