REGISTERED CHARITY NUMBER : 294633
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
FOR
WARGRAVE PRESCHOOL
Holybrook Associates Ltd 1st Floor, Pinnacle Building
20 Tudor Road
Reading RG1 1NH
WARGRAVE PRESCHOOL
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
| 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 2022
The trustees present their report with the finacial statements of the charity for the year ended 31st August 2022. 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 cativities, 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 preschools 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 2022
ACHIEVEMENT AND PERFORMANCE
The preschool has secured a lease of its building allowing the preschool to operate for longer hours without having to pay extra rent. This allows the preschool to secure an increased income by extending opening hours. In addition the lease term is secured until 2028 which provides certainty and security for the preschool's future.
The change in management has stabilised the staff, which has reduced costs and enabled the preschool to offer a full range of years again. We have looked to increase the number of children able to attend whilst adhering to ratios to maximise income. The trustees appointed an advisory board in 2020-21 and are now enjoying the benefit of their advice by providing 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
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 2022
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity Number 294633
Principal address
The Youth Centre Recreation Ground East View Road Wargrave Berkshire RG10 8BH
Trustees
IG Carter Chairman
Independent Examiner
Holybrook Associates Ltd 8 Victoria Road Reading Berkshire RG31 5AD
Approved by the Board of Trustees and authorised for issue on x/xx/2021 and were signed on its behalf by:
I G Carter Chairman
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 exmination of the accounts of Wargrave preschool (the Trust) for the year ended 31st August 2022.
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 1st Floor, Pinnacle Building 20 Tudor Road Reading RG1 1NH date Page Four WARGRAVE PRESCHOOL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022 Notes INCOME AND ENDOWMENTS FROM Other Trading Activities 2 Investment Income 3 Total EXPENDITURE ON Other NET INCOME (EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2022 2021 unrestricted unrestricted fund fund £ £ 102,867 173,321 37 2 102,904 173,323 103,527 88,278 -623 85,045 92,312 7,267 91,689 92,312 |
|---|---|
The notes form part of these financial statements
Page Five
WARGRAVE PRESCHOOL
BALANCE SHEET 31st AUGUST 2021
| Notes CURRENT ASSETS Debtors 7 Cash at bank and in hand CREDITORS Amount falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES ACCRUALS AND DEFERRED INCOME 9 |
2022 unrestricted fund £ 318 92,541 92,859 1,170 91,689 91,689 |
2021 unrestricted fund £ 78 94,469 94,547 2,235 92,312 92,312 |
|---|---|---|
| NET ASSETS FUNDS 10 Unrestricted funds TOTAL FUNDS |
91,689 91,689 91,689 |
92,312 |
|---|---|---|
| 92,312 | ||
| 92,312 |
The financial statements were approved by the Board of Trustees and authorised for issue on x/xx/2022 and were signed on its behalf by:
I G Carter Chairman
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 |
2022 2021 £ £ 40,933 71,778 4,556 25,779 57,379 75,764 |
|---|---|
| 102,867 173,321 |
3 INVESTMENT INCOME
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Interest on cash balances | 37 | 2 |
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 2022.
Trustees' Expenses
There were no trustees' expenses paid for the year ended 31st August 2022 nor for the year ended 31st August 2021.
5 STAFF COSTS
| 2022 | 2021 | ||
|---|---|---|---|
| The average number of employees during the year was | 6 | 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 2022
6 COMPARATIVES FOR THE STATEMENT OF FINANCIAL STATEMENTS
Unrestricted fund £ INCOME AND ENDOWMENTS FROM
| Other trading activities | 102,867 | ||
|---|---|---|---|
| Investment Income | 37 | ||
| Total | 102,904 | ||
| EXPENDITURE ON | |||
| Other | 103,527 | ||
| NET INCOME/(EXPENDITURE) | -623 | ||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 92,312 | ||
| TOTAL FUNDS CARRIED FORWARD | 91,689 | ||
| 7 | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Trade Debtors | 318 | 78 | |
| 8 | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Trade Creditors | 480 | 1,844 | |
| Taxation and Social Security | 690 | 391 | |
| Other Creditors | |||
| 1,170 | 2,235 |
Page Nine
WARGRAVE PRESCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31st AUGUST 2022
9 ACCRUALS AND DEFERRED INCOME
| 2022 | 2021 |
|---|---|
| £ | £ |
Accruals and deferred income
nil
nil
10 MOVEMENT IN FUNDS
| At 1st | Net | At 30th | |
|---|---|---|---|
| September | movement | August | |
| 2021 | in funds | 2022 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 92,312 | -623 | 91,689 |
| TOTAL FUNDS | 92,312 | -623 | 91,689 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| Resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 102,904 | 103,527 | -623 |
| TOTAL FUNDS | 102,904 | 103,527 | -623 |
| Comparatives for movement in funds | |||
| At 1st | Net | At 30th | |
| September | movement | August | |
| 2021 | in funds | 2022 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 92,312 | (543) | 91,689 |
| TOTAL FUNDS | 92,312 | (543) | 91,689 |
Page Ten
WARGRAVE PRESCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31st AUGUST 2022
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| Resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 102,904 | 103,527 | (543) |
| TOTAL FUNDS | 102,904 | 103,527 | (543) |
A current year twelve months and prior year twelve month combined position is as follows
| At 1st | Net | At 30th | |
|---|---|---|---|
| September | movement | August | |
| 2021 | in funds | 2022 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 99,939 | 84,062 | 184,001 |
| TOTAL FUNDS | 99,939 | 84,062 | 184,001 |
A current twelve months amd prior year twelve months combined net movement in funds, included in above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming Resources Resources expended Movement in funds £ £ £ 276,227 191,805 84,422 |
|---|---|
| 276,227 191,805 84,422 |
11 RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st August 2022
Page Eleven