Registered Charity No: 900518 Creeeh St Mich2el Communi Pre-school. Unaudited Re ort and Financial Statements for the Year Ended 31st Au ust 2023
Creeth St Michael Community Pre-school. Unaudited Report and Ffinancial Statements for the Year Ended 31$1 August 2023 CONTENTS PAGE General information Annual Report of the Trnstees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Accounts 8-12 llme and Expenditte Account 13
Creeeh St Michael Community Pre-school. Annual Report and Finaneial Statements for the Year Ended 315t August 2023 Registered Charity Number 900518 Registe¥ed Adthess: Creech St Michael Cornrnunity Pre-school Hyde Lane Creech St Michael Taunton Somerset TA3 5QQ Trnstees: Ms C Ottery- Treasurer (Resigned 13 October 2022) Ms Laura Lewis - Secretary (Resigned 13 October 2022) Ms Kathleen Alford (Resigned 13 October 2022) Ms Clair Naylor (Resigned 13 October 2022) Ms Jessica Stoodley- Chair (Stood down as chair 13, October 2022 & resigned 5 October 2023) Ms Charlotte Cole -_ Chair (Appointed 13 October 2022 & stood down as chair 3rd May 2024) th Ms Tessa Wright- Secr¢L4ry (Appointed 13 October 2022 & th resied 12 June ?023) M8 Katherine Griffiths- Trcasurer & Chair (Appointed 13 OclobeT 2022 & 8 May 2024) Ms Tracey Wadham- (Appointed 13 October 2022 & Tesigned I" January 2023) Ms Sarnantha S¢lf- (Appointed 13 October 2022) Ms Kelly Ridgers - (AppL)inted 13 October 2022) Ms Kelly Woodrnff- (Appointed 13 October 2022 & resigued 5 October 2023) Mrs Rachel Winter- (Appointed 5 October 2023) Independent Examiner. Miss A Cleaveley F.C.C.A.. A.T.T Michael J. Dodden & Co. Chartered Certified Accountants 34 North Street Bridgwater Somcrset TA6 3YD Bankers: National Westrninster Bank plc 135 Bishopsgate London EC2M 3UR Page I
Creech St Michael Community Pre-school. Annual Report of the Trllstees For the Year Ended 31$1 August 2023 Creech St Michael PTe-School is an unincorporated Ch&rity registered with the charity commission in England and Wales. number 900518. The Chatity is ooverned by its PLA P-S constitution dated 15 July 1999. The Trustees of the Chartty as list¢d on page l are appointed by the Committee at the AGM. Aims and Ob'ectives The aims of the association shall be to advance the education of Children below compulsory school age by (A) Providing safe and satisfying group play, in which parents have the right to take part (B) Encouraging other charitable activities through which parents may help the children (C) Furthering the aims of the pre-school playgroups associatLOn. The objectives of the Charity are to provide education and development of the pre-school through play and learning, and to prepare them for school. The pre-school acc¢pts ¢hildcare vouchers operated by employers in addition to the Nursery Education Funding, both of which allow inclusion for childT¢ll from low-income families. The Charity opeTates using standard Committee procedures with the financial side being uudertaken by an independent officer. The TTUStees confirni that they have referred to the guidance contained in the Charity Con]]nission's general guidance on public benefit when reviewing the Charity's aims and objectives and in pl8nTring future activities. Methods used to A oint Trustees The Trustees initially volunteer and are then nominated and seconded by the committee at an AGMISGNIIEGM. An eligibility declaration form is then completed and then the DRS/Of8ted registration process begins. Reserves Polic A Minimum of £1 0,000 should be retained to Cover day to day expenditure for a period for 3 months. A minimurn of £5,000 should be specifically retained for if the building wer¢ to become unavailable. A minimum of £15,000 should be retsined to cover fiiture staff costs. As of 31 August 2023, the chaTities unrestricted reserves stood at £101.793 (2022.. £92.985) of this £10,574 (2022.. £12,217) is held as fix¢d ass¢ts leaving £91,219 (2022- £80,768) of free reserves. This exceeds the targeted minimum level of reserves of £30,000. Page 2
Creech St Michael Community Pre-sebool. AnDual Report of the Trustees (continued) For the Year Ended 31$t August 2023 Thank you to all of the team at pre-school for the wonderful job you do. We have had a very busy year this year. As a charity we need committee members to keep the pre-school open (brief description of roles and responsibilities given).The commttt¢e do a lot of fundrdtsing events to raise money for the preschool. ActiTrities last year included: bintto. quiz. Christmas wrapping. nativity (first in person since ¢ovid). raffles, family fun event. For the coming year we have anotheT family fim event planned for November, Cl]ristmas activities and this year the nativity will be held at Ruishton (as it has a stage). There will be a number of changes coming this year. Debra, who has WOTked here and been Jnanager for a numbeT of yeaTS is ietiring at the end of OctobeT, she will be missed by all. We welcome Lucy as our new preschool manager, she has already started settlino in and has st&rted the handover with Debra. Clare will be remaining as deputy. Zoe and Em left last yeaT, since then we have welcomed Sam and Victoria to the team. Sam started as a volunteer, rnoved on to being a paid stand-in and bas now started her NVQ2. Victoria was Previously a parent. now registered on her NVQ2 ls well. Page 3
Creech St Michael Community Pre-school. Annual Report of the Tru$tees (continued) For the Year Ellded 31" August 2023 Statement of trnstee's responsibilities. The trustees are respongible for preparing the Trnstees. Report aud the financial staten]ents ill accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102; The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Acc¢ptcd Accounting Practice) Tbe law applicable to charities in England & Wales reqllires the trnstees to prepare fiuancial statements for each financial year which give a true and fair view of the state of affaiTS of the ch8tiry and of the income and expenditure of the Charity for that period. In prepaTing these financial statements. the tLVStees are Tequired to.. Select suitable accounting policies and then apply them consistently. Observe the methods of principles in the Chalities SORP. Make judgtnents and accounting estinutes that are reasonable and prndent. State whether applicable accounting stsndards have been followeQ subject to any material departures disclosed and explained in the financial ststements, and Prepare the fmancial statements on the going eoncern basis unless it is inappropriate to pieswne that the charity will continue in business. Thc trustc¢s arc rcsponsible for maintaining proper account records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply wtth the ChaTities Act 2011, the ChJiity (Accounts and Reports) Regulations 2008 and the provision for the constitution. They are also responsible for Sa£e.tUard]ng the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other IegUlarItIeS. The trustees are Tesponsible for the maintenance and integrity of the cbarity and financial illforn]ation included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemin&tion of financial statements may diffcr from legislation in other jurisdictions. Approved by the TTUStees on 9 August 2024 2nd Si]ed on their behalf by: Ms Kath Griffiths- Chair Date Page 4
Creech St Mtehael Community Pre-school. Independent Examiner's Report to the Trustees of Creech St Michael Community Pre-school For the Year Ended 31" August 2023 I report on the a¢¢oullts of Creecb St Michael Community Pre-school for the year ended 31 August 2023 which are set out on pages 6- 13. Responslbfilities and basis of report. As the charity trustees of th¢ cbarity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the ACV,) I report in respect of rny examination of the charity's accounts canied out under section 145 of the 2011 Act and in carying out my examination I have followed all tlLe applicable Directions given by the ChitV Conunission under section 145 (5)(b) of the Act. Xndependent examiners, statement. I have completed my examination. J can confirni that no matla1 matters have Come to my attention in connection with the examination giving me cause to believe that in any matertal respect. (l) Accounting records were not kept in r¢spe¢t of the Trnst as required by section 130 of the (2} The accounts do not aC¢OTd with those records; or (3) The accounts do not comply with the applicable requirements concerning the fonn and contents of th¢ account8 qet out Tn the Charities (Accounts and Reports) Regulations 2008 other than any requiTement that the accounts give 'ttrue and fair view" which 1% not a matter considered as part of an independent examination. I have nl) concerns and have come across no other matters in connection with the examination to which altenlion should be draTh Tn this report to enable a proper understanding of the accounts to be reached. Miss A Cleaveley F.C.C.A., A.T.T Michael J Dodden & Co Cbarter¢d Certifjed A¢¢ountants 34 North Street Bridgwater SomcTset TA6 3YD Date........ Page 5
Cree¢h St Michael Community Pre-sehool Statement of Financial Acti*ities For the year ended 31 Augllst 2023 Unrestricted Restricted Funds Dunds 2023 Total 2022 Total Income Donations & legacies Charitable activities- Pre-school income Commissions receivable Other trading activities Government Grants tnvestment incorne 254 131,294 254 131,294 39 110,543 225 579 699 1.356 1.356 341 341 133,245 133,245 112,087 Expenditure Charitable Activities - Pre-school Running costs 124.324 113 124,324 113 117.497 134 Other 124,437 124,437 117.631 Net Incojnel(Expendite) Net movement in hnds. 8,808 8,808 (5,544) RecoDcAliation of funds: Total Funds Brought Forward 92,985 100,756 193,741 199,285 Total Funds Carried Forward 101,793 100,756 202.549 193.741 The notes on pages 8 - 13 forn] part of these financial statements Page 6
Creech St Michael Community Pre-school Balance Sheet t 31 August 2023 2023 Total 2022 Total Note Fixed Assets Land and Buildings Plant and Machinery 109,144 2,186 109.144 3,829 111,330 112,973 Current Assets DebtOTS Cash and cash equivalents 8,267 95,782 11,197 84,095 104,049 95,292 Current Llabilities Credltors 12,830 14,524 Net Current Assets 91,219 80,768 Net Assets 202,549 193,741 The Funds of the Charity Restricted Funds 100,756 100,756 Urnrestricted Funds 101,793 92,985 Total Charity Funds 202,549 193,741 These accounts have been approved by the committee and are signed on theiT behalf by: . Ms Katherine Griffiths, Chair . Date . Ms Samantha Self, TTUStee jl. ! g 11.4............ Date The notes on pages 8 and 13 form part of these financial statements. Page 7
Creeeh St Michael Community Pre-school Notes to the Financial Statements For the year ended 31 August 2023 l Accounting Policies f Acc The financial statements have been prepared under the historical cost Collvention with iten)s recognised at cost or transaction value. The finaucial statements have been prepaTed in accordance with the Accounting and Reporting by Charities: Stdternent of Re¢omm¢nded Practice applicable to charities Preparing their accounts in accordance Trith the Financial Reportincr Standard applicable in the UK and Republic of Ireland (FRS102) (effe¢tive I January ?015)- {ChaTities SORP (FRS102)) Update Bulletin l issued February 2016, Update Bulletin 2 i8sued October 2018, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the ChltieS Act 2011. The Charity constitutes a public entity as defined by FRS 102. The trnstees consider that there are no materI uncertainties about the Clwity's ability to continue as a going concern. All income is Tecognised once the charity has entitlement to the income, it is probable that the income will be received, and tbe amount of incom¢ receivable can be eUre reliably. enditure Reco Liabilities are rccogniscd as expenditure soon as there is a legal or constrnctive obligation committing the C]wity to the expenditure, it is probably that settletnent be required and the amount of the obligation can be measured reliably. All expenditure is accountcd foT on an aCGn1,S basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. d) eon leActi t Charitable activities comprise all costs directly incurred in undertaking activities to fmlfil the ChaTRty's objects. The Cost of charitable activities consists of PTe-School Tunning cosL8, support costs and governance costs. This includes all Costs involving the public accountsbility of the Lharity and its compliance with Tegulation and good practice. These costs include costs related to the independent examination. ati As a registered charity, the organisation is exempt from income and corporation tax to the extent that its income and gains are appli¢able to charitable pUoseS only. Irr¢cov¢rable VAT is charged against the expenditure heading to which it was incUed ountin Fundg are classified according to the nmnner in wbich they are allowed to be present. The unrestiicted general hnd represents the accunlulation of the Charity's income and expenditure that has not been eanDark¢d for specific projects and is not considered by the TTUStees to be for a restricted purpose. To the extent that the fimd is repres¢nted by readily realisable assets it provides a means of financing the day-to-day operations. Page 8
Creech St Michael Community Pre-school Notes to the Financial Statements For the year ended 31 August 2023 g) Fund Accountin continued Restrieted funds have been provided to the charity foT PUTposes. and it is the policy of the board of trustees to carefully monitor the application of those funds in accordance with the restrictions placed upon them. ible Fixed Assets Tangible ftxed assets include the pre-school ball and fixttres and fittings. Individual fed assets costing £1,000 or more are capitalised at cost. Land and building are considered to have a high Tesidual value that is equal to the book value of the asset because the residual value of the properties is maintained by the ongoing maintenance of the property. Accordingly, no depreciation is charged. Works wbich do not result in enhancement of economic benefits of a propety are charged to the Income and Expenditlwe Account. Plant and rnachinery are stated at historical cost Icss dcprcciatkon so as to wlite off the cost of tan asset oveT the useful ecollornic life of that asset as follows:. Plant and machinery- by equal instalments over 10 years. The useful econornic lives and residual values of all tsngible fixed assets are reviewed annually. È) Cash and Cash Equivalents Cash and cash ¢quival¢nts include cash in hand, deposits and other short-tem highly liquid investments that are readily convertible to know arnounts of cash with insignificant risk of change in value. j) Financial Instruments The charity ()nly has financial assets and liabilities that qualify as basic financial illstrurnents. Basic financial instruments are initially recognised as transaction valu¢ and subsequently measured at amortised ¢osL k) Critical Accountin Jud ements and Estimation Uncertain Estimates and judgements are continually ¢valuat¢d and are based on historical experience and adjusted for CUJTeut market conditions or otber factors. The Trustees make ¢stimat¢s and assumptions concerning the future. The resulttng accounting estimates will, by definition, scldom be the same as Telated actual results. The estimates, assumptions and management judgements tbat caTry a significant risk of Tnaterial adjusttnents to the carying amounts of assets and liabilities within the next financial year are outlined below. l) Residual values of land and buildin Land and buildings are not depreciated on the basis that their residual value is at least equal to their carrying value based on the continual maintenance of these properties. The significant assumptions applied in deternlining the residual values of our buildings are mainly due to (i) whether it will continue to be necessary to rnaintain the properties to a certain standard (IT) the rnaTket value of the properties. Page 9
Creech St Michael Community Pre-school Notes to the Financi21 Statements For the year ended 31 August 2023 2 Trustees Remuneration and Expenses No remuneration, other ben¢fits or expenses have been paid to any of the ttustees during the year (2022 - £nil). 3 Tangible Fixed Assets Land & Buildings Plant & Machinery Total Cost At I September 2022 109,144 16.434 125,578 Addktions At 31 August 2023 12 reciation At I September 2022 12,605 12,605 Charge for year At 31 Au.(Yust 2023 14.248 14,248 Net Book Value At 31 August 2023 109.144 2,186 111,330 At 31 August 2022 109.144 3,829 112,973 Page 10
Creech St Michael Community Pre-sehool Notes to the Financial Statements For the year ended 31 August 2023 4 Statement of Funds I September 2022 31 August 2023 Income Eipenditur¢ Unrestrict 92,985 133245 124.437 101.793 Restrict New Hall fLmd 100,756 100.756 193,741 133 ?45 124,437 202,549 Represented by Unrestrieted Restricted Fullds Funds Fixed Assets Net Current Assets 10,574 91,219 100,756 101,793 100.756 The unrestricted funds represent free funds of the Charity, which are not designed for a particular purpose. Tbe pre-school purchased a new hall at a cost of £100.756 in the year ended 31 August 2007 out of nds specifically raised for this purpose. Prior Year Ststement of Funds I September 2021 31 August 2022 Ineome Expenditure til ted Funds 98,529 112,087 117,631 92,985 trictcd Fun New HAU fund 100,756 100.756 199.?85 112,087 117,631 193,741 Represented by Unrestrictsd Restricted Funds Fur*ds Fixed As8et8 Net Currcnt Assets 12.217 80.768 100,756 92,985 100,756 Page 11
Creech St Michael Community Pre-school Notes to the Financial Statements For the year ended 31 August 2023 Staff Costs The average number of staff employed during the period as follows: 2023 2022 The aggregate payroll ¢osts of these persons were as follows." 2023 2022 Wages and salaTies Pensions 93,816 430 92.005 67 94,236 92.072 There w¢re no employees with emoluments above £60.000 in the year. The Charity consid¢rs it kcys management personnel to comprise of the nursery Manag¢r. Total r¢muneration of key rnanagement was: £20,567 (2022. £20,329) Page 12
Creeeh St Michael Community Pre-school Trnding Income and Expenditure Account For the year ended 31 August 2023 Unrestrleted FndS Restricted Total 2023 Total 2022 Funds Ineome Donations Gov¢rnment GraJ)ts- Covid 19 254 254 39 699 Charitable Activities Fees Early Years grant CoTnmissions Inierest 23,955 107,339 23,955 107,339 25,l16 85,427 225 341 341 Other Trading Activities Fundraising events alld appeals 1,356 1,356 579 Total Income 133,245 133,245 112,087 Expenditure Charitable Aetivities Wages PlaY0p supplie8 94.676 2,552 1,667 12,998 772 94,676 2,552 1,667 12,998 772 92,072 3.065 1,481 10,803 916 Establishmellt Telephone E- 111 Refreshments Training Postage, printing & stationery Finaucc service costs Uniforn Advertising Depre¢iation 1,496 317 540 4,543 1,496 317 540 4,543 708 (430) 457 4.604 1,643 E,643 1,643 Other Miscellaneous 3,233 3,233 2.312 Total Expenditure 124,437 124.437 117,631 Net tneorne 8,808 8,808 (5.544) Reconclliation of Funds: Total Funds Brought Forw2rd 92.985 100,756 193,741 199.285 Total Funds Carried Fonyard 101,793 ROO,756 202,549 193,741 Page 13