REGISTERED CHARITY NUMBER: 292446
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2020
for
First Stop Preschool
Simply Accounts & Tax Limited Epsilon House Ransomes Europark Ipswich Suffolk IP3 9FJ
First Stop Preschool
Contents of the Financial Statements for the Year Ended 31 August 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 12 |
| Detailed Statement of Financial Activities | 13 | to | 14 |
First Stop Preschool
Report of the Trustees for the Year Ended 31 August 2020
The trustees present their report with the financial statements of the charity for the year ended 31 August 2020. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objective of the charity is to advance the education of children below compulsory school age in and around the district of Trimley St Mary.
This year, in order to meet its objective, the preschool has provided 62 children with between two and five half-day sessions each per week within a safe, secure and stimulating environment. Careful planning of staffing levels has ensured that each individual child benefited from the support they required in order to develop their potential at their own pace.
Sessions have been carefully planned so that children attending preschool will, by the time they reach school age, have had the opportunity to achieve the desirable learning outcomes set out by the Early Years Foundation Stage (EYFS 2017) and can progress with confidence. In spite of the Covid-19 lockdown beginning on 23 March, First Stop remined open for Key Worker children whilst there was a demand and during this period of disruption and uncertainty provided a safe and nurturing environment for children, whilst still providing appropriate play activities and a high level of adult input the following seven areas of learning, as set by the EYFS:
Prime Areas: Personal, Social and Emotional Development Physical development Communication and Language
Specific Areas: Literacy Mathematics Understanding the World Expressive Arts and design
Significant activities
Due to Covid-19 restrictions, apart from the Christmas party, which was held at The Memorial Hall with a magician, no other events for the children were able to take place.
Just prior to lockdown a Quiz Night was held at The Three Mariners Pub and the amount raised from this evening was £400. This money has been 'set aside' for a future specific purchase to be decided once the Management Committee can properly reconvene.
Page 1
First Stop Preschool
Report of the Trustees
for the Year Ended 31 August 2020
ACHIEVEMENT AND PERFORMANCE
Maintenance work carried out on the building this year including replacement of the rodent mesh all round and replacement of the old lights for new LED lights due deterioration of the wiring to the old lights causing the power to repeatedly trip. The new LED lights will help reduce future energy bills.
The preschool intends to carry on the practice of allocating funds to a reserve account for future larger building maintenance costs and to this end £1000 has been added to the Building Fund which now stands at £3500.
The preschool continues to invest in staff training, particularly Food Hygiene, First Aid and Safeguarding and continues to abide by its set policies covering Admissions, Behaviour Management, Safeguarding, Complaints, Confidentiality, Equal Opportunities, Health and Hygiene, Parental Involvement, Safety, Special Needs, Staffing, Employment and Student Placements.
In summary, in spite of a year facing the unprecedented challenge of a pandemic, the preschool has been able to manage itself in accordance with the budgets set and continues to receive positive feedback from parents on the services that it provides. The continued success of the preschool is due to the high quality of care and educational stimulation provided by the preschool staff, in particular the Manager, who receives the support of the Finance Administrator, Management and Custodian Trustees.
FINANCIAL REVIEW
Reserves: Unspent income reserves of £122,213.87 in the bank, plus £223.35 in cash, making a total closing balance of £122,437.32 31st August 2020, these funds being adequate to ensure that the charity is able to meet all current and known liabilities and to guarantee the high quality of service required.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Organisational structure
The Custodian Trustees have been in contact throughout the year, were present at the AGM and met once at the end of the financial year.
The Management Trustees met on five occasions during the year to deal with the general day to day running of the Preschool, and sub committees met on other occasions for specific purposes (e.g. carnival organisation).
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
292446
Principal address
2 Guston Gardens Kirton Suffolk IP10 0PN
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First Stop Preschool
Report of the Trustees for the Year Ended 31 August 2020
Trustees
By agreement of all present at the AGM held on 5 February 2020 the following people were re-elected to the Management Committee:
Sarah Banham Adam O'Connor Karen Britchfield Laura Skeffington Aimee Winterbone
New Members: None
The Custodian Trustees have been in regular contact throughout the academic year, were present at the AGM, but due to Covid-19 restrictions held a digital rather than face-to-face meeting at the end of the financial year 2020.
During this academic year, the Management Trustees met on two occasions face-to face and then, due to Covid-19 restrictions two further meetings were conducted digitally in order to deal with the general day to day running of the Preschool. There was no carnival sub-committee this year due to the cancellation of this event as a result of Covid-19 rules.
Independent Examiner
Simply Accounts & Tax Limited Epsilon House Ransomes Europark Ipswich Suffolk IP3 9FJ
Approved by order of the board of trustees on ..... and signed on its behalf by:
Independent Examiner's Report to the Trustees of First Stop Preschool
Independent examiner's report to the trustees of First Stop Preschool
I report to the charity trustees on my examination of the accounts of First Stop Preschool (the Trust) for the year ended 31 August 2020.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the 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 Act and in carrying out my examination I have followed all 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 giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do 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.
Digitally signed by Simon Sturman DN: cn=Simon Sturman, o=Simply Accounts and Tax, ou, email=simon@simplyaccountsan dtax.co.uk, c=GB Date: 2021.04.09 13:50:53 +01'00'
S D Sturman FCCA Simply Accounts & Tax Limited Epsilon House Ransomes Europark Ipswich Suffolk IP3 9FJ
09/04/2021 Date: .............................................
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First Stop Preschool
Statement of Financial Activities for the Year Ended 31 August 2020
| 31.8.20 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Charitable activities General Activities 109,801 Other trading activities 2 725 Investment income 3 148 Total 110,674 EXPENDITURE ON Raising funds 4 600 Charitable activities General Activities 99,289 Total 99,889 NET INCOME 10,785 RECONCILIATION OF FUNDS Total funds brought forward 254,542 TOTAL FUNDS CARRIED FORWARD 265,327 |
31.8.19 Total funds £ 97,090 461 155 |
|---|---|
| 97,706 534 96,696 |
|
| 97,230 | |
| 476 234,946 |
|
| 235,422 |
The notes form part of these financial statements
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First Stop Preschool
Balance Sheet 31 August 2020
| 31.8.20 | 31.8.19 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| funds | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 8 | 143,000 | 143,000 |
| CURRENT ASSETS | |||
| Stocks | 9 | 268 | |
| Debtors | 10 | 120 | - |
| Cash at bank and in hand | 122,437 | 112,818 | |
| 122,557 | 113,086 | ||
| CREDITORS | |||
| Amounts falling due within one year | 11 | (230) | (1,544) |
| NET CURRENT ASSETS | 122,327 | 111,542 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 265,327 | 254,542 | |
| NET ASSETS | 265,327 | 254,542 | |
| FUNDS | 12 | ||
| Unrestricted funds | 265,327 | 254,542 | |
| TOTAL FUNDS | 265,327 | 254,542 |
The financial statements were approved by the Board of Trustees on signed on its behalf by:
..............[. and were]
Trustee
The notes form part of these financial statements
First Stop Preschool
Notes to the Financial Statements for the Year Ended 31 August 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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continued...
First Stop Preschool
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
2. OTHER TRADING ACTIVITIES
| 2. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 31.8.20 | 31.8.19 | ||
| £ | £ | ||
| Fundraising events | 500 | 148 | |
| T Shirts | - | 108 | |
| Photographs - commission | 225 | 205 | |
| 725 | 461 | ||
| 3. | INVESTMENT INCOME | ||
| 31.8.20 | 31.8.19 | ||
| £ | £ | ||
| Deposit account interest | 148 | 155 | |
| 4. | RAISING FUNDS | ||
| Raising donations and legacies | |||
| 31.8.20 | 31.8.19 | ||
| £ | £ | ||
| Support costs | 600 | 534 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 31.8.20 | 31.8.19 | |
|---|---|---|
| Employees (full and part time) | 10 | 10 |
No employees received emoluments in excess of £60,000.
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First Stop Preschool
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| funds | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Charitable activities | |
| General Activities | 97,090 |
| Other trading activities | 461 |
| Investment income | 155 |
| Total | 97,706 |
| EXPENDITURE ON | |
| Raising funds | 534 |
| Charitable activities | |
| General Activities | 96,696 |
| Total | 97,230 |
| NET INCOME | 476 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | |
| As previously reported | 234,946 |
| Prior year adjustment | 19,120 |
| As restated | 254,066 |
| TOTAL FUNDS CARRIED FORWARD | 254,542 |
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First Stop Preschool
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
8. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |||||
|---|---|---|---|---|---|
| COST At 1 September 2019 and 31 August 2020 NET BOOK VALUE At 31 August 2020 At 31 August 2019 |
Fixtures and fittings £ 16,500 16,500 16,500 |
Building £ 110,000 110,000 110,000 |
Shed £ 3,000 3,000 3,000 |
Canopy £ 13,500 13,500 13,500 |
Totals £ 143,000 |
| 143,000 | |||||
| 143,000 |
Fixed asset traditional were not depreciated under the receipts and payments method. Having changed to accruals, the charity has continued not to depreciate its assets for consistency.
9. STOCKS
| 9. | STOCKS | ||
|---|---|---|---|
| 31.8.20 | 31.8.19 | ||
| £ | £ | ||
| Stocks | - | 268 | |
| 10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.8.20 | 31.8.19 | ||
| £ | £ | ||
| Trade debtors | 120 | - | |
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.8.20 | 31.8.19 | ||
| £ | £ | ||
| Trade creditors | 121 | 1,372 | |
| Taxation and social security | 109 | 172 | |
| 230 | 1,544 |
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First Stop Preschool
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
12. MOVEMENT IN FUNDS
| At 1.9.19 £ Unrestricted funds General fund 249,149 Building restoration 2,500 Outdoor play area 65 SCC additonal special grants 2,228 Pupil Premium 600 254,542 TOTAL FUNDS 254,542 Net movement in funds, included in the above are as follows: Unrestricted funds General fund Pupil Premium TOTAL FUNDS Comparatives for movement in funds |
Net movement in funds £ 9,976 - - - 809 10,785 10,785 Incoming resources £ 109,865 809 110,674 110,674 |
Transfers between At funds 31.8.20 £ £ 665 259,790 1,000 3,500 (48) 17 (345) 1,883 (1,272) 137 - 265,327 - 265,327 Resources Movement expended in funds £ £ (99,889) 9,976 - 809 (99,889) 10,785 (99,889) 10,785 |
|---|---|---|
| Unrestricted funds General fund Building restoration Outdoor play area SCC additonal special grants Pupil Premium TOTAL FUNDS |
At 1.9.18 £ 232,961 1,500 65 - 420 234,946 234,946 |
Prior year adjustment £ 19,120 - - - - 19,120 19,120 |
Net movement in funds £ (1,932) - - 2,228 180 476 476 |
Transfers between funds £ (1,000) 1,000 - - - - - |
At 31.8.19 £ 249,149 2,500 65 2,228 600 |
|---|---|---|---|---|---|
| 254,542 | |||||
| 254,542 |
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First Stop Preschool
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
12. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 94,794 | (96,726) | (1,932) |
| SCC additonal special grants | 2,228 | - | 2,228 |
| Pupil Premium | 684 | (504) | 180 |
| 97,706 | (97,230) | 476 | |
| TOTAL FUNDS | 97,706 | (97,230) | 476 |
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2020.
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First Stop Preschool
Detailed Statement of Financial Activities for the Year Ended 31 August 2020
| INCOME AND ENDOWMENTS Other trading activities Fundraising events T Shirts Photographs - commission Investment income Deposit account interest Charitable activities Fees - parents Fees - Government Fees - special needs SCC additional grant Donations Total incoming resources EXPENDITURE Charitable activities Wages Social security Rates Insurance Light, heat and water Advertising and fundraising Housekeeping and consumables Toys, books and equipment Gifts to leavers and staff Maintenance and renovation Training, courses and T Shirts Uniforms Sundry expenses Travel Donations Subscriptions Licences, registrations & DBS Carried forward |
31.8.20 31.8.19 £ £ 500 148 - 108 225 205 725 461 148 155 10,310 11,126 94,987 82,852 - 684 4,434 2,228 70 200 109,801 97,090 110,674 97,706 88,037 84,363 - (803) - 433 1,375 1,346 847 1,368 147 503 1,151 1,292 2,371 4,481 392 335 2,602 566 753 601 114 26 13 - 8 175 - 55 130 50 615 517 98,555 95,308 |
|---|---|
This page does not form part of the statutory financial statements
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First Stop Preschool
Detailed Statement of Financial Activities for the Year Ended 31 August 2020
| Detailed Statement of Financial Activities for the Year Ended 31 August 2020 |
||
|---|---|---|
| Charitable activities Brought forward Recruitment advertising Support costs Management Postage and telephone Stationery, printing & copying Governance costs Accountancy and legal fees Total resources expended Net income |
31.8.20 31.8.19 £ £ 98,555 95,308 - 90 98,555 95,398 452 863 282 435 734 1,298 600 534 99,889 97,230 10,785 476 |
|
| 95,398 863 435 |
||
| 1,298 534 |
||
| 97,230 | ||
| 476 |
This page does not form part of the statutory financial statements
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