**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
Page 2
**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:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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: .............................................
Page 4
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
Page 5
## **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.
Page 7
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.
Page 8
continued...
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|
Page 9
continued...
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|
Page 10
continued...
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|
Page 11
continued...
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.
Page 12
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
Page 13
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
Page 14