Chair's Report 2024.
After a hard but excellent year, Little Oaks continues to be a very successful Pre School. The Pre School-Provides different and fun learning, games and activities to help the children develop and thrive. Jill Brace (manager) and the other staff members provide a safe and educational area of learning that help the children in their own personal goals, helping each child get ready for their next step in life. The hard work from each staff member means that each child is ensured the best possible introduction to their education and important life skills. While being the chair person for another year for the Little Oaks Committee have been able to see behind the scenes and witness firsthand the hard work and dedication that the staff and fellow committee members have given to make this Pre School a truly magical and wonderful place for the children, the staff have a close bond meaning that this Pre School feels like a home and a family rather than just a place to go to work. The staff make sure that any topics covered are relevant and inspired by the children interests and are suitable for the age range at the school, from the library where children can borrow reading books to take home to the mud kitchen allowing role and messy play. We are proud to provide our local community with a special and unique Pre School with an OFSTED rated 'GOOD'. I believe this is the result of amazing quality staff members and the dedication and active support of the committee members from year to year. Little Oaks is a Non-Profit making organisation and is a registered charity, therefore funding for Little Oaks is made up of 3 main factors. 1.goverment funding for the children. 2.Fees paid by parents for non-funded children or for extracurricular activities, and lunch clubs. 3.fundraising. All the three factors mean that we are able to keep the Pre-school at the current level and for all the staff to keep their focus on caring for the children, given them the best possible opportunities. As a Chairty Little Oaks needs to have a active and supportive committee and needs to continue from year to year, without this the Pre School would not be able to operate, meaning the Pre-school would cease to exist. Members of our committee are volunteers, who are primarily parents of the children attending Little Oaks they play a vital role in the Pre-school from administration to maintenance. All members and parents are equally important to the future of the Pre School and help keep Little Oaks running smoothly.
As a committee we work hard to maintain the school and support the Manager and staff.
Over the past year this has been a challenge as due to a low birthrate nationally we have not had so many children joining us resulting in not as many parents volunteering to join the committee. This has impacted what we could do and the number of fundraising activities we could hold, but we have managed to continue to support the staff and keep the Pre school a going concern.
Nicola Younger
Chair
Little Oaks Pre-School (Frimley)
Balance Sheet as at 31 July 2024
| Fixed Assets Tangible assets Note 11 Current Assets Debtors and prepayments Note 8 Cash at bank and in hand Liabilites Creditors: amounts falling due within 1 year Note 9 Net asset or liabilites excluding pension asset or liability Defned beneft pension scheme asset or liability Total net assets The funds of the charity Endowment funds Restricted funds Unrestricted funds Revaluaton reserve Pension reserve Total charity funds |
Total Funds £ 50,902 435 17,608 18,043 400 17,643 0 68,545 0 482 68,063 0 0 68,545 |
Prior Year Funds £ 50,902 1,027 18,626 |
|---|---|---|
| 19,653 486 |
||
| 19,167 0 |
||
| 70,069 | ||
| 0 437 69,632 0 0 |
||
| 70,069 |
Approved by: Nicola Younger Chair Date05.05.25
Little Oaks Pre-School (Frimley)
DRAFT
Notes to the Accounts
Year to 31 July 2024
1. Basis of preparation
1.1 Basis of accounting
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014
and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102)
and with the Charities Act 2011
The charity constitutes a public benefit entity as defined by FRS 102
1.2 Going concern
The trustees are of the view that funding from Surrey County Council and fees charged to parents will be sufficient to cover normal operating costs and on this basis the charity is a going concern.
1.3 Changes to accounting estimates No changes to accounting estimates have occured in the reporting period.
2. Accounting policies
2.1 Recognition of income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met and it is probable that the income will be received and the amount can be measured reliably. Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
There has been no offsetting of assets and liabilities or income and expenses unless required or permitted by the FRS 102 SORP or FRS 102.
The charity has received government grants in the reporting period - Surrey County Council funding for children attending the Pre-School.
Income from interest, royalties and dividends: This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.
2.2 Expenditure and liabilities
Liability recognition: Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty
Redundancy cost: The charity made no redundancy payments during the reporting period.
Creditors: The charity has creditors which are measured at settlement amounts less any trade discounts
Provisions for liabilities: A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date
2.3 Assets
Tangible fixed assets for use by charity: These are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost. The depreciation rates and methods used are disclosed in note 11.
Debtors: Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
3. Trustee expenses and remuneration.
No trustee expenses have been incurred. None of the trustees have been paid any remuneration or received any other benefits from an employment with the charity or a related entity.
4. Related party transactions
There are no related party transactions.
| 5. Disclosure of audit, independent examination and other financial service fees 2024 2023 £ £ Independent examinaton fees 155 150 6. Grants Receivable 2024 2023 £ £ Surrey County Council 3,177 1,615 3,177 1,615 |
5. Disclosure of audit, independent examination and other financial service fees 2024 2023 £ £ Independent examinaton fees 155 150 6. Grants Receivable 2024 2023 £ £ Surrey County Council 3,177 1,615 3,177 1,615 |
|---|---|
Independent examinaton fees 6. Grants Receivable Surrey County Council |
|
| 3,177 1,615 |
Surrey County Council funded £3177 for 1:1 assistance (2022: £1600) Surrey County Council passed on grants for Food Vouchers from the government £45 (2022 £15)
| 7. Paid employees Staf costs are comprised of Salaries (net) and staf welfare Social security costs Pension contributons |
2024 2023 £ £ 53,236 58,374 3,522 4,995 1,193 1,034 |
|---|---|
| 57,951 64,403 |
There are no employees who received employee benefits of more than £60,000 During the reporting period there were an average of 4 employees
| 8. Debtors Trade debtors Prepayments 9. Creditors: amounts falling due within 1 year Trade creditors Accruals and deferred income Taxaton and social security |
2024 2023 £ £ - - 435 1,027 |
|---|---|
| 435 1,027 | |
| 2024 2023 £ £ - - 400 400 - 86 |
|
| 400 486 |
10. Movement of Funds
| 10. Movement of Funds | |
|---|---|
| Balance as at 1st August 2023 Net incoming/(outgoing) resources Balance as at 31st July 2024 11. Tangible fixed assets |
Unrestricted Restricted Endowment Total Funds Funds Funds Funds £ £ £ £ 69,632 437 - 70,069 - 1,569 45 - - 1,524 |
| 68,063 482 - 68,545 | |
11.1 Cost
| Building Area Play Area |
Total | |
|---|---|---|
| At beginning of year | 56,066 6,095 | 62,161 |
| Additons | - - | - |
| Disposals | - - | - |
| At end of year | 56,066 6,095 | 62,161 |
| 11.2 Depreciation | ||
| Building Area Play Area |
Total | |
| At beginning of year | 10,985 274 | 11,259 |
| Disposals | - - | - |
| Depreciaton | - - | - |
| Impairment | - - | - |
| At end of year | 10,985 274 | 11,259 |
| 11.3 Net Book Value | ||
| At beginning of year | 45,081 5,821 | 50,902 |
| At end of year | 45,081 5,821 | 50,902 |
Little Oaks Pre-School (Frimley)
DRAFT
Statement of Financial Activities
Year to 31 July 2024
| Income and endowments from Donatons Gifs and donatons Charitable actvites Pre-School fees including Surrey CC funding Grants - other Note 6 Other trading actvites Fundraising Other income Sundry income Gross interest Expenditure on Raising funds Fundraising Charitable actvites Salaries Note 7 Premises costs Training Materials, equipment, uniform Insurance Professional fees Administratve costs Other Bad debts Bank charges and sundry costs Net (expenditure)/income Transfers between funds Net movement in funds Reconciliaton of funds Total funds brought forward Total funds carried forward |
Unrestricted Restricted Endowment Total Funds Funds Funds Funds £ £ £ £ 0 0 0 0 69,316 0 0 69,316 3,177 45 0 3,222 16 0 0 16 54 54 0 0 0 0 72,563 45 0 72,608 0 0 0 0 57,951 0 0 57,951 10,263 0 0 10,263 501 0 0 501 962 0 0 962 1,764 0 0 1,764 1,510 0 0 1,510 1,018 0 0 1,018 79 0 0 79 84 0 0 84 74,132 0 0 74,132 -1,569 45 0 -1,524 0 0 0 0 -1,569 45 0 -1,524 69,632 437 0 70,069 68,063 482 0 68,545 |
Prior Year Funds £ 110 73,576 1,615 2,494 0 0 |
|---|---|---|
| 77,795 379 64,403 11,665 0 459 1,564 1,301 1,154 0 113 |
||
| 81,038 -3,243 0 |
||
| -3,243 73,312 70,069 |
Little Oaks Pre-School Year to 31 July 2024
Journals
| Nominal | Nominal | |
|---|---|---|
| Number J00044 | ||
| Accruals | 86.16 | 2300 |
| Pensions | 86.16 | 7012 |
| To reverse July 2023 accrual re pension contributons, paid out of bank on 02 | Aug 23 | |
| Number J00045 | ||
| Prepayments | 1027 | 1101 |
| Gas | 692 | 7201 |
| Electricity | 335 | 7200 |
| To reverse the credit balances for gas and electricity per Eon statements dated end July 2023 | ||
| Number J00046 | ||
| Prepayments | 435 | 1101 |
| Gas | 113 | 7201 |
| Electricity | 322 | 7200 |
| To refect the balances for gas and electricity per Eon statements as at end July 2024 |
TOTALS 1462 1462
| 2024 accruals Accruals: Independent reviewer bookkeeping 2024 Prepayments Gas/elec |
155 245 |
|---|---|
| 400 435 |
Rent now paid monthly in 2023 and paid before month-end, so no accrual or prepayment at year-end Insurance - rom Aug 23 onwards insurance should have been paid in instalments, so no prepayment due in 2023 accounts Pensions: July pensions paid over on 31 Jul 24 so no accrual required
| Restricted Funds: £150 and £350 donatons re bathroom (received in a prior year) | Restricted Funds: £150 and £350 donatons re bathroom (received in a prior year) | 500 |
|---|---|---|
| Food vouchers grants from SCC 2023 | 15 | |
| Less: amount paid out in July 2023 | ||
| Plumbfx | 62.97 | -62.97 |
| Less: food vouchers 2023 | -15 | |
| Balance at 31 July 2023 | 437.03 | |
| Food vouchers grants from SCC 2024 | 45 | |
| Balance at 31 July 2024 | 482.03 |
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees/ Charity Name Little Oaks Pre-School members of On accounts for the year 31[st] July 2024 ended Set out on pages 1-5
Charity no 802781 (if any) (remember to include the page numbers of additional sheets)
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 / 07 / 2024 .
Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report 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 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention (other than that disclosed below *) in connection with the examination which gives me cause to believe that in, any material respect:
-
accounting records were not kept in accordance with section 130 of the Act or
-
the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
- Please delete the words in the brackets if they do not apply.
Date: 30[[th]] May 2025 fe
Signed: Date: 30[[th]] May 2025 Name: Mrs Sheemul Fahim ~~Ce~~ Relevant professional Association of Accounting Technicians (AAT) Level 2 qualification(s) or body (if any): Address: 39 Firwood Drive Camberley Surrey GU15 3QD
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Section B
Disclosure
Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
Cash in Hand
Prior Year’s (2023) Cash in Hand balance of £2,054 not banked during year. Based on email correspondence between Accountant and Manager, it is established the cash is ‘on-premises’. Advise to check that the cash is there and banked.
Operating Deficit
Although there is a healthy reserve fund, advise that Chair’s Report be more transparent (upfront) on Operating deficit. 2[nd] year of Operating Deficit and this in turn depletes the reserves. Need to understand what steps are being taken to mitigate this and/or reverse this trend.
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Independent Examination Checklist (CC32a)
The Examiner’s checklist has been prepared in accordance with The Charity Commission’s Direction and guidance for examiners (CC32).
| Direction | Direction Heading | Complete (Y/N) |
Examiner’s Comment | Document Reference |
|---|---|---|---|---|
| 1 | Check whether the charity is eligible to have an independent examination |
Y | The charity is permitted to have an independent examination. •Gross income is more than £25,000, but not more than £1 million •Aggregate value of Assets are below threshold for Audit of£3.26m |
Statement of Financial Activities DRAFT YE 31stJul 24: Turnover = £72,608 and Assets = £68,545 |
| 2 | Check for any conflict of interest that prevents the examiner from carrying out their independent examination |
Y | •No close or personal relationships with the trustee if the charity exist •Examiner is not a donor or has significant influence •Examiner has no involvement in day to day administration of the charity |
n/a |
| 3 | Record your independent examination | Y | Paper and Electronic copies of: •Appointment email from Snell Associated •Fee invoice for independent examination •Independent examiner's report on the accounts •Sample Documents Reviewed |
Paper and Electronic copies available of records |
| 4 | Plan the independent examination | Y | •The Pre-School operates under the model constitution of the ‘Pre- School Learning Alliance’ (Checked) •The Pre-School’s Policies and Procedures are published on it’s website. The documents outline the way the school operates and managed ( Checked) •Accounting records and systems (checked) •Charity’s structure, its funds and how fund balances changed in the year (checked) •the charity’s activities in the year and spending, and the financial risks the charity faces – Chair’s Report 2024 |
Little Oaks website; ‘About Us’ Kashflow Connect Accounts System Draft Financial Reports for YE 31 Jul-24 Chair’s Report 2024 |
| 5 | Check that accounting records are kept to the required standard |
Y | •The accounting records are up to date and readily available. They provide sufficient information from which the charity’s financial position can be understood. •Details of income and expenditure have been recorded. Details of assets and liabilities have been recorded. |
Kashflow Accounting System Bank Statements Payroll Reports |
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| •Records including vouchers, invoices, bank statements, etc. have been kept to support the accounts |
Customer Fee Invoices Supplier Invoices |
|||
|---|---|---|---|---|
| 6 | Check that the accounts are consistent with the accounting records |
Y | •The accounts of the charity have been compared with the charity’s accounting records in sufficient detail. The examiner can reasonably conclude that the accounts are not materially inconsistent. |
Kashflow Connect Accounting System Bank Statements Payroll Reports Customer Fee Invoices Supplier Invoices |
| 7 | If the accounts are prepared on an accruals basis and one or more related party transactions took place the examiner must check if these were properly disclosed in the notes to the accounts. |
Y | No Related Party Transactions disclosed |
Notes to the Accounts, Section 4 |
| 8 | Check the reasonableness of the significant estimates and judgments and accounting policies used in accounting for the types of fund held and in the preparation of the accounts |
Y | The accounts have been prepared on the basis of historic cost convention, with items recognised at cost or transaction value |
Notes to the Accounts, Section 1 |
| 9 | The examiner must check whether the trustees have considered the financial circumstances of the charity at the end of the reporting period and, if the accounts are prepared on an accruals basis, check whether the trustees have made an assessment of the charity’s position as a going concern when approving the accounts |
Y | The accounts have been prepared on a ‘going concern basis’. However the organization has been operating a deficit for at least two years and this is reducing the available reserves. This should be monitored. |
Notes to Accounts: 1.2 Going Concern |
| 10 | Check the form and content of the accounts |
Y | The accounts have been prepared in accordance of Statement of Recommended Practice (SORP), The Charities Act and FRS 102 |
Notes to Accounts: 1.1 Basis of Preparation |
| 11 | Identify items from the analytical review of the accounts that need to be followed up for further explanationorevidence |
Y | Evidence of cash in hand which has been brought forward from prior year, needs to be followed up, and deposited to Bank. |
Email from Caroline to Jill dated 18th/21st March 2025 |
| 12 | Compare the trustees’ annual report with the accounts |
Y | Chair’s Report | Chair’s Report 2024 |
| 13 | Write and sign the independent examination report |
Y | As per document coversheet | Page 1 of this document |
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Appendix A - Sample Documents Reviewed
Voucher, Invoices, Remittance, Bank Statements, Monthly Payroll Report
| Source Document | Category | Purpose | Reconciled to Accounts |
|---|---|---|---|
| Lloyds Bank Statement | Current Asset | Show year end cash balance and reconciliation to draft accounts |
Cash Balance on Lloyds Bank Statement as at 31stJul-24 is £15,111.55 Cash in Hand – see email correspondence between Jill and Caroline dated 18th/21st March 25 |
| Monthly Payroll Report vs Bank Statement |
Expenditure | Reconcile monthly Payroll Reports to Bank Statement/Transaction |
Yes |
| Surrey CC Remittance Advice (REF: 30443772 30444665 30446755 |
Income (Funding) | Surrey CC Funding Summer 24 (2- 4 yr/olds) |
Yes: Remittance = £9,999.96 Bank State’ = £9,999.96 |
| Pro Trainings Invoice Inv No: 74315 (19/03/2024) |
Expenditure | Supplier Fees relating to First Aid Training |
Invoice Amount: £501 Payment Amount: £501 paid on 15thMay2024 |
| E.on Next Utility Bill Electric Jul-24. AC No (A-3E47DFDD) |
Accrual & Prepayments |
Jul-24 Gas and Electricity Bill Supply. Supplier Statement showing credit balance used to prepared Prepayment Journal. Gas=£113.46 / Elec’ =£322.18 |
Supplier Statement, cross checked against statements/payments and system prepayments |
| Fee Invoice / Email / Kashflow / Bank Statement |
Income (Fee) | Validate Fee Income from Parents Multiple Invoices and Remittance checked |
Yes |
Additional Notes;
Kashflow Connect System, is the Accounting package used. A sample review of data and transactions was conducted which included;
-
Supplier Invoices
-
Parent Fee Invoices
-
Journal entries
-
Reports including; P&L, Balance Sheet and Trial Balance
The system data was reconciled to Bank Statements and paper documents, e.g. physical invoices, email correspondences, etc.
October 2018
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