2021-08-31-accounts - Wargrave Preschool

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REGISTERED CHARITY NUMBER : 294633

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

FOR

WARGRAVE PRESCHOOL

Holybrook Associates Ltd Curious Lounge

1st Floor, Pinnacle Building

Tudor Road Reading RG1 1NH England

WARGRAVE PRESCHOOL

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

	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 11

WARGRAVE PRESCHOOL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021

The trustees present their report with the financial statements of the charity for the year ended 31st August 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicale to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2015).

OBJECTIVES AND ACTIVITIES

Objectives and Aims

Development and education of children primarily under the statutory school age by encouraging their parents to understand and provide for the needs of their children through the community groups and by offering appropriate play, education and care facilities, together with the parents' rights to take responsibility for and to become involved in the activities of the group.

In setting our objective and planning our activities, our trustees have given careful consideration to the Charity Commission's general guidance on public benefit.

Relating to our main objectives and achievements for the year we have provided preschool sessions for thirty-eight academic weeks of the year for two to four year olds.

We have provided access to children who are eligible for funding through Wokingham Borough Council and place no retrictions on children accessing funded sessions at preschool.

Committee positions are filled by volunteers from the membership.

Members also take part in session when possible. New starters are given settling in time and further support can be offered when required.

Annual Activities are held to encourage interaction between the preschool members an dthe community. These include picnics, sports day, coffee morning and evening fundraisers for the local community.

Fundraising by membership is used in general for projects to improve the preschool environment and equipment.

An annual survey of members provides guidance on areas that should be improved and these are discussed at the AGM. Regular committee meetings document progress in these areas.

Page One

WARGRAVE PRESCHOOL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021

ACHIEVEMENT AND PERFORMANCE

The change in management has stabilised the staff, which has reduced costs and enabled the preschool to offer a full range of years again. There have been some generous donations from residents and support from the Parish council, which is the landlord of the premises used. The School is in the course of finalising a lease which will enable an extension of the offer. The trustees have appointed an advisory board to provide continuity, stability and expertise.

FINANCIAL REVIEW

Principal funding sources

The charity has two main sources of funds. Wokingham Borough Council pays fees for each child at school.

In addition, the Preschool charges parents for additional services, including lunch club, breakfast club or hours not covered by their 15 or 30 hours per week funding.

Reserves Policy

A fund is kept to cover the costs of closure. The costs of closure include repayment of advance fees paid by Wokingham Borough Council, honouring the lease commitment, payment of staff salaries over their notice period and other liabilities such as rental of equipment, and contracts with legal advisors and insurers. The reserve required has been calculated at £50,000.

Going Concern

The trustees consider that there are no material uncertainties regarding the charity's ability to continue to be a going concern. There are no material uncertainties affecting the current year's accounts.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document "Preschool Learning Alliance Model Constitution 2005"

The selection of the Trustees in made at the AGM and elected from the membership.

Each new trustee/committee member signs a confidentiality agreement and receive details of their roles and responsibilities.

Each new trustee and committee member is given a handover from the previous incumbent and access to him or her for questions and continuity.

Page Two

WARGRAVE PRESCHOOL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity Number 294633

Principal address

The Youth Centre Recreation Ground East View Road Wargrave Berkshire RG10 8BH

Trustees

Isabelle Carter Co-chair Juan Bosc Co-chair Helen Classen Treasurer Nicola Grant Secretary

Independent Examiner

Holybrook Associates Ltd Curious Lounge 1st Floor, Pinnacle Building Tudor Road Reading RG1 1NH England Approved by the Board of Trustees and authorised for issue on 12/07/22 and were signed on its behalf by:

I G Carter Co-chair

Page Three

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WARGRAVE PRESCHOOL

Independent examiner's report to the trustees of Wargarve Preschool

I report to the charity trustees on my examination of the accounts of Wargrave preschool (the Trust) for the year ended 31st August 2021.

Responsibilities and basis of report

As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordnace with the requirements of the Charities Act 2011 ("the Act")

I report in respect of my exmaination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Direcrions 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 indpendent 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.

Rachel Eden Holybrook Associates Ltd Curious Lounge 1st Floor, Pinnacle Building Tudor Road Reading RG1 1NH England

Date 12/07/2022

Page Four

WARGRAVE PRESCHOOL

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021

		2,021	2020
		unrestricted	unrestricted
	Notes	fund	fund
		£	£
INCOME AND ENDOWMENTS FROM
Other Trading Activities	2	173,321	71,435
Investment Income	3	2	25
Total		173,323	71,460
EXPENDITURE ON
Other		88,278	101,451
NET INCOME (EXPENDITURE)		85,045	(29,991)
RECONCILIATION OF FUNDS
Total funds brought forward		7,267	37,258
TOTAL FUNDS CARRIED FORWARD		92,312	7,267

The notes form part of these financial statements

Page Five

WARGRAVE PRESCHOOL

BALANCE SHEET 31st AUGUST 2021

		2,021	2020
		unrestricted	unrestricted
	Notes	fund	fund
		£	£
CURRENT ASSETS
Debtors	7	78	526
Cash at bank and in hand		94,469	9,219
		94,547	9,745
CREDITORS
Amount falling due within one year	8	2,235	2,478
NET CURRENT ASSETS		92,312	7,267
TOTAL ASSETS LESS CURRENT
LIABILITIES		92,312	7,627
ACCRUALS AND DEFERRED INCOME	9
NET ASSETS		92,312	7,627
FUNDS	10
Unrestricted funds		92,312	7,627
TOTAL FUNDS		92,312	7,627

The financial statements were approved by the Board of Trustees and authorised for issue on 12/07/2022 and were signed on its behalf by:

I G Carter Co-Chair

The notes form part of these financial statements

Page Six

WARGRAVE PRESCHOOL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st AUGUST 2021

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 1st January 2015)', Financial reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the 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 the 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.

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 Seven

WARGRAVE PRESCHOOL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31st AUGUST 2021

2 OTHER TRADING ACTIVITIES Fundraising and Donations Fees Funding 3 INVESTMENT INCOME Interest on cash balances	2021 2020 £ £ 71,778 1,513 25,779 19,458 75,764 50,464
	173,321 71,435
	2021 2020 £ £ 2 25

4 TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration and other benefits paid for the year ended 31st August 2021 nor for the year ended 31st August 2020.

Trustees' Expenses

There were no trustees' expenses paid for the year ended 31st August 2021 nor for the year ended 31st August 2020.

5 STAFF COSTS

2020 2019 The average number of employees during the year was 5 6 as follows

No employees received emoluments in excess of £60,000

Page Eight

WARGRAVE PRESCHOOL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31st AUGUST 2021

6	COMPARATIVES FOR THE STATEMENT OF FINANCIAL STATEMENTS	COMPARATIVES FOR THE STATEMENT OF FINANCIAL STATEMENTS
		Unrestricted
			fund
			£
	INCOME AND ENDOWMENTS FROM
	Other trading activities		173,321
	Investment Income		2
	Total		173,323
	EXPENDITURE ON
	Other		88,278
	NET INCOME/(EXPENDITURE)		85,045
	RECONCILIATION OF FUNDS
	Total funds brought forward		7,267
	TOTAL FUNDS CARRIED FORWARD		92,312
7	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2021	2020
		£	£
	Trade Debtors	78	526
8	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2021	2020
		£	£
	Trade Creditors	1,844	2,078
	Taxation and Social Security	391
	Other Creditors		400
		2,235	2,478

Page Nine

WARGRAVE PRESCHOOL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31st AUGUST 2021

9 ACCRUALS AND DEFERRED INCOME

	2021	2020
	£	£
Accruals and deferred income	nil	nil

10 MOVEMENT IN FUNDS

Unrestricted funds General fund TOTAL FUNDS	At 1st September 2020 Net movement in funds At 30th August 2021 £ £ £ 7,267 85,045 92,312
	7,267 85,045 92,312

Net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement
	Resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	173,323	88,278	85,045
TOTAL FUNDS	173,323	88,278	85,045
Comparatives for movement in funds
	At 1st	Net	At 30th
	September	movement	August
	2019	in funds	2020
	£	£	£
Unrestricted funds
General fund	37,258	(29,631)	7,627
TOTAL FUNDS	37,258	(29,631)	7,627

Page Ten

WARGRAVE PRESCHOOL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31st AUGUST 2021

Comparative net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement
	Resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	71,460	101,451	(29,991)
TOTAL FUNDS	71,460	101,451	(29,991)

A current year twelve months and prior year twelve month combined position is as follows

	At 1st	Net	At 30th
	September	movement	August
	2019	in funds	2021
	£	£	£
Unrestricted funds
General fund	37,258	55,054	92,312
TOTAL FUNDS	37,258	55,054	92,312
A current twelve months amd prior year	twelve months combined net mo
funds, included in above are as follows:
	Incoming	Resources	Movement
	Resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	244,783	189,729	55,054
TOTAL FUNDS	244,783	189,729	55,054

A current twelve months amd prior year twelve months combined net movement in funds, included in above are as follows:

11 RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st August 2021

Page Eleven

REGISTERED CHARITY NUMBER : 294633

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

FOR

WARGRAVE PRESCHOOL

Holybrook Associates Ltd Curious Lounge

1st Floor, Pinnacle Building

Tudor Road Reading RG1 1NH England

WARGRAVE PRESCHOOL

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

	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 11