Charity Registered Number 900267
North Hinksey Preschool & Childcare Clubs
Accounts
For The Year Ended 31 July 2023
/® Ridgefield Consulting CHARTERED := ACCOUNTANTSICAEW
North Hinksey Preschool & Childcare Clubs Report and accounts Contents
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|Charity|Information|4|
|Report|of the|Trustees|2-6|
|Independent|Examiner's|Report|7|
|Statement|of|Financial|Activity|-|Income|&|Expenditure Account|8|
|Balance|sheet|9|
|Notes|to|the|accounts|10-11|
|Detailed|Statement|of|Financial|Activity|-|Income|&|Expenditure Account|12|
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North Hinksey Preschool & Childcare Clubs Charity Information
Directors and Trustees
The Directors of the charity are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees.
The Trustees serving during the year ended 31 July 2023 are as follows:-
Trustees
Ruth Vaughan Stuart Dashwood (Chair) Linda Kitching (Secretary) lan Fitchett (Treasurer) Kari Hodson Katie Haigh Nicola Montague
Accountants Simon Thomas Ridgefield Consulting Ltd 2 Hinksey Court Church Way Oxford Oxfordshire OX2 9SX
Registered Office North Hinksey Preschool and Childcare Clubs North Hinksey Lane North Hinksey Oxford OX2 OLZ
Charity Registration Number 900267
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North Hinksey Preschool & Childcare Clubs Report Of The Trustees
Structure, Governance and Management
The Trustees are pleased to present their report together with the financial statements for the year ended 31 July 2023.
Firstly, | would like to welcome Kari Hodson, Katie Haigh and Nicola Montague who have managed to navigate the EY2 form and are now accepted as Trustees! | would also like to thank Stu, !an and Linda for continuing to support us on the committee.
Generally, things are going really well at Preschool. In this report | will outline what has happened for the academic year from September 2022.
Firstly, we were in a very difficult place in September. Karen Warmington left suddenly over the summer and we had to change, many ways, that we were working. To ensure all the children were safe and we had enough staff for ratios myself and Linda had to work predominantly with children and fit in Administration and Management tasks either out of hours or around the daily routine of preschool. It was pretty challenging.
At the beginning of October Linda resigned to explore a different role. This meant there were only 4 staff left, 3 qualified (myself-Ruth, Sharon and Ali) with Jasmine as apprentice. The committee made a decision to raise wages significantly to retain current staff but also to be able to recruit qualified and experienced staff. There is a crisis in Early Years recruitment anyway and we were then disadvantaged further through being term time only and in a location, not that easy to travel to.
Luckily for us the new rate (£14.50 an hour) for a level 3 trained member of staff enticed Emily Williams to come and join us at the end of October! This was great as she is experienced and trained and has fitted really well into our team. | then was able to complete the admin tasks in the afternoons, whilst the children are asleep in the office.
We did also need to use Bank staff up until December to support the team, which was a big expense. Because our salary bill was really high, we ran at a significant loss so in January we took on some new children to boost our income.
Just before Easter we managed to recruit another member of staff Lea Kloeppinger, who has nearly completed her level 3 apprenticeship, but was also experienced working in several different settings as an untrained member of staff. Knowing we were having Lea meant we took some more children on after Easter. We now had 35 children on roll.
The team has settled in really well and changed some ways of working which has really improved the daily routine and support for the children such as using the Hive to split the children in the morning for snack, introducing a physical group session prior to snack. Lunchtimes have been improved too with staff ratating to have a lunch break and children choosing calm focused activities straight after lunch before going into free flow play and children having naps.
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North Hinksey Preschool & Childcare Clubs Report Of The Trustees
Training
Looking back at the year it seems remarkable that Ali and Ruth undertook and completed the Early Years Professional Development Program “Building on Success’ funded through the Department of Education which took 6 months. It was a really good refresher training focusing on Social and Emotional Development, Communication and Language and Mathematical development and | am really pleased that in the second round of this training Emily and Sharon will be undertaking this from September. Our intention is for Lea and Jasmine to complete this too, from January when they have completed their apprenticeships.
I have also this year, (since January) completed my level 3 SENCO qualification (funded by DfE). This qualification isn’t mandatory for settings however it was a really good opportunity to ensure the role is professional and providing the best support for children and their families, attending our setting. Our intention is for Ali to complete this too once it is opened up again to settings.
Staff Supervisions and Networking
| have managed to complete Staff supervisions in this summer term and aim to carry on with having them termly. This is an opportunity to review CPD, consider Childrens needs and any safeguarding concerns. | have also managed to update all the settings policies and issue an employee handbook to all staff.
We have also contacted the other settings that children attend to form stronger links with our Early Years Community. | still attend regular Networking meetings with other Oxfordshire Early Years Managers, with the aim of supporting each other, sharing ideas and gaining peer to peer support. | attend termly Managers briefings with Oxfordshire County Council Early Years Teams and safeguarding Network meetings, keeping our setting up to date with themes and initiatives locally and nationally.
| continue to work closely with the school however will see what the new year brings in terms of the school having a new Head Teacher and an Executive Head, overseeing the school for the next year.
Students
This year we had a level 2 Student complete two, two-week placements. | then supported them through the interview process, to get an apprenticeship at Willow Cottage to attain their level 3 as an Early Educator. Also, we have had a Brookes Early Child Hood Studies first Year student, that we also then employed as bank staff.
We had 2 work experience students which were successful too. Our aim to have more students from September and | have contacted Abingdon and Witney College and Brookes to see if there are some wanting placements.
| believe having students not only bolstered our levels of adults (young people) available to be with the children but it gave existing staff opportunities to share their practice. Since Covid in many ways, we had become quite secluded and not had visitors in the setting. So, although they can cause more work for employed staff there are positives from having them.
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North Hinksey Preschool & Childcare Clubs Report Of The Trustees
Parents visits
This last term we have welcomed parents into the setting. We have had a photographer (although this was to take photos for parents) it was a great experience for the children. We also had “Chef Miconi” come and cook Pizza (a bit different to his job at Christ Church College!) We had a Children’s nurse come in and measure the children and listen to their hearts, as well as two grandmothers come and read stories (lots of them!) to small groups of children as well as play with them. And lastly, we had an Art Teacher (Dad) come and do printing with the children. Before the end of term, we are having another Mum come in to play instruments and sing and move with the children.
Again, since covid we had become pretty closed off and this has been a great opportunity to share practice but make what we do, more visible to parents, and we definitely will be doing this next year but earlier on in the academic year. | think this not only enriches our curriculum but enable staff to grow in confidence.
Transitions
This has worked really well this year with daily morning visits from Easter, to reception for children starting school. Then afternoon visits/ play, after half term. Mrs Claxton and Mrs Strange held an afternoon visit for parents to see the classroom and meet the teachers which was successful. Ali and Sharon also met Mrs Claxton to talk about our cohort and to review the baseline assessment which will help us consider our curriculum.
New families
Since December | have been showing potential families around most weeks. Many settings are still not doing this and | feel this has really helped grow our waiting list. We now have 21 new children starting in September! We do have 20 children leaving to go to school and sadly have lost 3 other families due to families relocating. Many of the new children are attending hours over the funded 15 and are also using the wrap care meaning our income is significantly higher from September. As such | have decided to not over fill our setting from September as | have a number of children on the waiting list that want to start in January but also at Easter. We also have 4 children potentially with additional needs, so | want to settle them in and assess the support they require.
Numbers of Children
We will however have the same number of children as we have now (34 in September) We have 6 children wanting to start January 24. We will have by January 3 sets of twins!
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North Hinksey Preschool & Childcare Clubs Report Of The Trustees
Funding
This week we have received the funding rates for September. Funded 2-year-olds increase is from £6.21 an hour to £8.23! The 3- and 4-year-old funding is not so good £4.58 to £5.09. With these new rates alongside the increase in children paying for hours and attending wrap care we will be more than breaking even every month, with out needing to increase fees.
This rise in funding rates is a really positive move for us as a setting, especially as we take a good number of 2-year-olds, when locally there is a shortage of provision. As this rate is above our fees, when all children become funded as 2-year-olds (15 hours from Easter ’24) we will be ok. However, we will need to be conscious of the drop in income as those 2-year-olds become 3, and will need to always have space to accommodate extra 2-year-olds across the year. Other settings that do not take 2-year-olds so flexibly, will struggle and | do think we will see a good deal more Early Years settings close as a result.
Wrap care
As a team we decided to introduce a Monday Breakfast and After Preschool Club from September, The numbers are lower on Mondays but | feel this will grow.
Staff hours and cleaning
Because the numbers are much higher in Wrap care now, we have been struggling to get the garden and room tidy with resources cleaned so staff will be increasing their hours on the days they are not in Wrap care from 3.15 finish to 3.30. We will continue with the same cleaning schedule with the cleaner once a week cleaning the flooring.
Finances
As | predicted through forecasting, we will have lost around £10k over the past year. As | explained previously, we lost money September- December with a deficit of 31% (-£17,957), however JanEaster we’ve made a +31% £20,038. | forecast with another member of staff and the additional children a profit +15% of £8,835 meaning we will lose around £10k over the whole year.
| feel we are in a good position and it getting stronger though staff are working really hard for a good salary!
New resources and Summer Maintenance
| have been refreshing resources and buying some new things in light of the funding increase. | will also be looking at some maintenance things over the summer. The floor in the office has collapsed as has the floor in the disabled toilet. This is being replaced by school over the summer. | will re-look at storage solutions in the garden and get the water pump fixed.
Inset day
We are having the inset day September 4th as staff training. We are going to re-do Early Language Training (ready for September Cohort), a presentation on the role of the Senco, and graduated approach, Prevent Duty and British Values refresh, and a good look at the new (Sept 2023) “Early Years Inspection Framework ready’. We are going to be focusing on being OFSTED ready from September! We will be inspected within a 6-year window (since JULY 2019)
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North Hinksey Preschool & Childcare Clubs Report Of The Trustees
Committee
| will try again to get new members of for our committee from September. We can plan an AGM for the Autumn term, by which time we will have had our finances audited.
The Trustees are required to prepare the financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the Charity for that period.
Trustees must provide information about serious incidents as part of the Charity's Annual Return. Failure to do so will be regarded as a breach of legal requirements.
In preparing those financial statemements, the Trustees are required to:
¢ select suitable accounting policies and then apply them consistently; e observe the methods and principles in the Charity SORP; Likdchen Trustees North Hinksey PreSchool & Childcare Clubs
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North Hinksey Preschool & Childcare Clubs Accountants’ Report
Independent Examiner's report to the Trustees of North Hinksey Preschool & Childcare Clubs
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the charity for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) or under Regulation 10(1)(a) to (c) of The Charities Accounts (Scotland) Regulations 2006 (the 2006 Accounts Regulations) and that an independent examination is needed. The charity is required by company law to prepare accrued accounts and | am qualified to undertake the examination by being a qualified member of The Institute of Chartered Accountants in England and Wales.
-
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 (the 2005 Act); * follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
state whether particular matters have come to my attention
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission and is in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that, in any material respect, the requirements
*to keep accounting records in accordance with section 386 of the Companies Act 2006 and section 44(1)(a) of the 2005 Act; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of the Companies Act 2006, section 44(1)(b) of the 2005 Act and Regulation 8 of the 2006 Accounts Regulations; and
“which are consistent with the methods and principles of the Statement of Recommended Practice Accounting and Reporting by Charities
have not been met; and
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mr Simon Thomas BA FCCA ACA
Ridgefield Consulting Ltd
2 Hinksey Court
Church Way
Oxford Oxfordshire OX2 9SX
16 November 2023
re
North Hinksey Preschool & Childcare Clubs Statement Of Financial Activity - Income & Expenditure Account for the year ended 31 July 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Total | Unrestricted | Restricted | |||
| £ | £ | £ | £ | ||
| Incoming Resources | |||||
| Voluntary Income | 2,088 | 2,088 | * | 1,130 | |
| Activities for Generating Funds | 162,389 | 162,389 | - | 156,784 | |
| Investment Income | 1,252 | 1,252 | - | 80 | |
| Total Incoming Resources | 165,729 | 165,729 | - | 157,994 | |
| Resources Expended | |||||
| Cost ofGenerating Income | (162,584) | (162,584) | - | (128,256) | |
| Other Resources Expended | (28,935) | (28,935) | le | ___ (32,336) | |
| Total Resources Expended | (191,519) | (191,519) | - | (160,592) | |
| Deficitfortheyear | (25,790) | (25,790) | - | (2,598) | |
| Total Funds Brought Forward | 184,986 | 184,986 | - | 187,584 | |
| Total Funds Carried Forward | : | 459,196 | 159,196 | - | 184,986 |
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North Hinksey Preschool & Childcare Clubs Balance Sheet
as at 31 July 2023
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|||||||||
|---|---|---|---|---|---|---|---|
|Notes|2023|2022|
|Unrestricted|Unrestricted|
|£|£|
|Fixed|assets|
|Tangible|assets|3|22,390|27,989|
|Current|assets|
|Debtors|5|556|719|
|Cash|at|bank|and|in|hand|137,390|157,379|
|137,946|158,098|
|Creditors:|amounts|falling|due|
|within|one year|6|(1,140)|(1,101)|
|Net current|assets|136,806|156,997|
|Net assets|159,196|184,986|
|Reserves|
|Income|and|Expenditure Account|159,196|184,986|
|Total Funds|159,196|184,986|
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The trustees are satisfied that the charity is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The trustees have not required the Charity to obtain an audit in accordance with section 476 of the Act.
The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
L Kitching {on behalf of the Trustees) Approved by the Trustees on
The notes on page 10 - 11 form part of these finacial statements.
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for the year ended 31 July 2023
North Hinksey Preschool & Childcare Clubs Notes to the Accounts
1 Accounting policies
(a) Basis of preparation
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
(b) Incoming Resources
These are included in the Statement of Financial Activities (SoFA) when: - The Charity becomes entitled to the resources;
-
The trustees are virtually certain they will receive the resources;
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The monetary value can be measured with sufficient reliability.
Fee Income - has increased in comparison to year 2021/22.
Fee Assistance Scheme - as advertised we still offer help with fees, where financial hardship would prevent a child from attending our group.
(c) Donations & Grants
Income from donations and grants is included in incoming resources when these are receivable and the Charity has unconditional entitlement to the resources.
(d) Incoming Resources with related expenditure
Where incoming resources have related expenditure (as with fundraising), the incoming resources and related expenditure are reported gross in the SoFA.
(e) Interest Received
Interest is included when received by the Charity.
- (f) Resources expended
Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of VAT that cannot be recovered.
(g) Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Tools & Equipment 20% reducing balance Pre-school Equipment 20% reducing balance Building - Log Cabin 20% reducing balance
- (i) Fund Accounting
Funds held by the Charity include both unrestricted general funds and restricted funds. Unrestricted funds can be used in accordance with the charitable objects at the discretion of the Trustees whereas restricted funds can only be used for the specified purpose allocated.
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North Hinksey Preschool & Childcare Clubs
Notes to the Accounts
for the year ended 31 July 2023
2 Net Income/(Outgoing) Resources
This is stated after charging:
Depreciation of owned fixed assets
2023 2022 £ £ 5,599 6,990
3 Tangible fixed assets
| Tangible fixed assets | ||||
|---|---|---|---|---|
| Land and | Tools & | Pre-school | ||
| buildings | Equipment | equipment | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 August 2022 | 70,975 | 8,684 | 39,332 | 118,991 |
| At 31 July2023 | 70,975 | 8,684 | 39,332 | 118,991 |
| Depreciation | ||||
| At 1 August 2022 | 47,941 | 6,488 | 36,573 | 91,002 |
| Charge for the year | 4,607 | 440 | 552 | 5,599 |
| At 31 July2023 | 52,548 | 6,928 | 37,125 | 96,601 |
| Net book value | ||||
| At 31 July2023 | 18,427 | 1,756 | 2,207 | 22,390 |
| At31July2022 | 23,034 | 2,196 | 2,759 | 27,989 |
4 Taxation
North Hinksey Preschool & Childcare Clubs is a registered charity and as such is exempt from Corporation Tax.
4 Debtors and prepayments
| 4 | Debtors andand prepayments | 2023 | 2022 |
|---|---|---|---|
| £ | £ | ||
| Debtors | - | 137 | |
| Prepayments | 556 | 582 | |
| 556 | 719 | ||
| 5 | Creditors: amounts falling due within oneyear | 2023 | 2022 |
| E | £ | ||
| Fees Paid In Advance | - | 201 | |
| Accruals | 1,140 | 900 | |
| 1,140 | 1,101 |
qA
North Hinksey Preschool & Childcare Clubs Detailed Statement Of Financial Activity for the year ended 31 July 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Total | Unrestricted | Restricted | |||
| £ | £ | £ | £ | ||
| Incoming Resources | |||||
| VoluntaryIncome: Donations | 2,088 | 2,088 | - | 1,130 | |
| Activities for Generating Funds | |||||
| Fundraising | 337 | 337 | - | 1,169 | |
| Coronavirus Job Retention Scheme Grants | - | - | - | 2,049 | |
| Private Fees | 84,754 | 84,754 | - | 60,839 | |
| Nursery Grants | 77,298 | 77,298 | - | 69,369 | |
| OtherGrants | - | - | - | 23,358 | |
| Investment Income: Bank Interest Received | 1,252 | 1,252 | - | 80 | |
| 165,729 | 165,729 | - | 157,994 | ||
| Resources Expended | |||||
| Cost ofGenerating Income | |||||
| Pre-School Expenses | 3,699 | 3,699 | - | 3,706 | |
| Refreshments & School Dinners | 2,057 | 2,057 | ~° | - | 2,656 |
| Wagesandsalaries | 156,828 | 156,828 | ee | 121,894 | |
| 162,584 | 162,584 | - | 128,256 | ||
| Other Resources Expended | |||||
| Employee costs: | |||||
| Temporary staffand recruitment | 1,860 | 1,860 | - | - | |
| Stafftraining and welfare | 2,793 | 2193 | - | 837 | |
| 4,653 | 4,653 | - | 837 | ||
| Premises costs: | |||||
| Rates | 6,353 | 6,353 | - | 7,244 | |
| Repairs and maintenance | 1,293 | 1,293 | - | 6,858 | |
| Cleaning | 2,564 | 2,564 | es | 2,988 | |
| 10,210 | 10,210 | - | 17,090 | ||
| General administrative expenses: | |||||
| Telephone and fax | 1,316 | 1,316 | a | 1,126 | |
| Stationery and printing | 1,185 | 4,185 | - | 1,325 | |
| Subscriptions | 1,365 | 1,365 | - | 1,315 | |
| Bank charges | 60 | 60 | - | 96 | |
| Insurance | 1,726 | 1,726 | - | 1,660 | |
| Equipment expensed | 178 | 178 | - | 34 | |
| Software | 19 | 19 | - | 19 | |
| Depreciation | 5,598 | 5,598 | = | 6,991 | |
| 11,447 | 11,447 | - | 12,566 | ||
| Legal and professional costs: | |||||
| Payroll & Independent examiner fee | 1,650 | 1,650 | - | 1,407 | |
| Advertising and PR | 975 | 975 | 436° | ||
| 2,625 | 2,625 | oe | 1,843 | ||
| Total Other Resources Expended | 28,935 | 28,935 | ~ | 32,336 | |
| Total Resources Expended | 191,519 | 191,519 | - | 160,592 | |
| Surplus/(Deficit) | (25,790) | (25,790) | - | (2,598) |
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