Registered Charity No: 900518
Creech St Michael Community Pre-School.
Unaudited Report and Financial Statements for the Year Ended 31[st] August 2024
Creech St Michael Community Pre-School.
Unaudited Report and Financial Statements for the Year Ended 31[st] August 2024
| CONTENTS | PAGE |
|---|---|
| General information | 1 |
| Annual Report of the Trustees | 2 - 4 |
| Independent Examiner’s Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Accounts | 8 – 12 |
| Income and Expenditure Account | 13 |
Creech St Michael Community Pre-School.
Annual Report and Financial Statements for the Year Ended 31[st] August 2024
| Registered Charity Number 900518 | |
|---|---|
| Registered Address: | Creech St Michael Community Pre-School |
| Hyde Lane | |
| Creech St Michael | |
| Taunton | |
| Somerset | |
| TA3 5QQ | |
| Trustees: | |
| Ms Jessica Stoodley – (Resigned 5thOctober 2023) | |
| Ms Charlotte Cole – Chair (Stood down as chair 3rdMay 2024 | |
| & resigned 30thSeptember 2024) | |
| Ms Katherine Griffiths – Treasurer & Chair (Appointed chair | |
| 8thMay 2024 & resigned from treasurer on 30thSeptember | |
| 2024) | |
| Ms Samantha Self – Treasurer (Appointed treasurer 30th | |
| September 2024) | |
| Ms Kelly Ridgers – (Resigned 30thSeptember 2024) | |
| Ms Kelly Woodruff – (Resigned 5thOctober 2023) | |
| Mrs Rachel Winter – (Appointed 5thOctober 2023) | |
| Miss Emily Lawrence – (Appointed 30thSeptember 2024) | |
| Mr Richard White – (Appointed 30thSeptember 2024) | |
| Independent Examiner: | Miss A Cleaveley F.C.C.A., A.T.T |
| Michael J. Dodden & Co. | |
| Chartered Certified Accountants | |
| 34 North Street | |
| Bridgwater | |
| Somerset | |
| TA6 3YD | |
| Bankers: | National Westminster Bank plc |
| 135 Bishopsgate | |
| London | |
| EC2M 3UR |
Page 1
Creech St Michael Community Pre-School.
Annual Report of the Trustees For the Year Ended 31[st] August 2024
Creech St Michael Pre-School is an unincorporated Charity registered with the charity commission in England and Wales, number 900518.
The Charity is governed by its PLA P-S constitution dated 15[th] July 1999.
The Trustees of the Charity as listed on page 1 are appointed by the Committee at the AGM.
Aims and Objectives
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 association.
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 accepts childcare vouchers operated by employers in addition to the Nursery Education Funding, both of which allow inclusion for children from low-income families.
The Charity operates using standard committee procedures with the financial side being undertaken by an independent officer.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives and in planning future activities.
Methods used to Appoint Trustees
The Trustees initially volunteer and are then nominated and seconded by the committee at an AGM/SGM/EGM. An eligibility declaration form is then completed and then the DBS/Ofsted registration process begins.
Reserves Policy
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A minimum of £10,000 should be retained to cover day to day expenditure for a period for 3 months.
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A minimum of £5,000 should be specifically retained for if the building were to become unavailable.
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A minimum of £15,000 should be retained to cover future staff costs.
As of 31 August 2024, the charities unrestricted reserves stood at £108,129 (2023: £101,793) of this £8,931 (2023: £10,574) is held as fixed assets leaving £99,198 (2023: £91,219) of free reserves. This exceeds the targeted minimum level of reserves of £30,000.
Page 2
Creech St Michael Community Pre-School.
Annual Report of the Trustees (continued) For the Year Ended 31[st] August 2024
It has been a difficult year for the preschool overall, however I would like to thank my fellow committee members and the wonderful preschool staff for their support and hard work during this period.
Debra, our previous manager, retired last October and was replaced by Lucy. Lucy had some wonderful ideas on how to develop the preschool, however she was unable to continue in the position for personal reasons and had to step down part way through the year. Our deputy Claire had planned to step down once Lucy was settled in but also took the decision to leave at this point. We struggled to find a leadership team to step in on short notice so the committee helped as much as possible with support from Nikki at the council. I would like to particularly thank Emma and Lily who both stepped up to lead the sessions and they did a wonderful job in such a challenging time. I am so grateful to all the staff for stepping up and showing up every day, even though it was a very difficult and uncertain period. We are very lucky to have such a dedicated team supporting our children to grow.
The staff have also been busy with their training and development this year. Lily has completed her SenCo training, and is very passionate about the role. Sam has finished her NVQ2 level 2 and is having a well-deserved rest, and Victoria is nearly finished in her NVQ level 2 as well.
We started the year off with a big fundraising effort, and held a number of successful family events. I hope that this year we will have more volunteers to enable us to put on more of these events. We have also been donated money from the parish magazine, which we are looking to put towards more outside equipment and storage for the preschool. We were able to have another successful Christmas raffle and put on Sports Day and graduation as usual.
I would like to acknowledge the hard work the committee has put in this year, we have lost a few members for personal reasons but I could not have made it through the year without Sam and Rachel’s support. I would like to also thank the staff again, Emma, Lily, Mandy, Clair, Sam and Victoria. You make the preschool what it is and we appreciate all your hard work.
I would like to finish by welcoming Mandi, our new manager to the preschool. I can already see she is going to make a wonderful addition to the preschool, and her support since accepting the role has been invaluable. I am looking forward to seeing what the next year brings.
Page 3
Creech St Michael Community Pre-School.
Annual Report of the Trustees (continued) For the Year Ended 31[st] August 2024
Statement of trustee’s responsibilities.
The trustees are responsible for preparing the Trustees’ Report and the financial statements in 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 Accepted Accounting Practice)
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently.
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Observe the methods of principles in the Charities SORP.
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Make judgments and accounting estimates that are reasonable and prudent.
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible 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 with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provision for the constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the Trustees on 11[th] July 2025 and signed on their behalf by:
………………………………… ………………………………… Ms Katherine Griffiths – Chair Date
Page 4
Creech St Michael Community Pre-School.
Independent Examiner’s Report to the Trustees of Creech St Michael Community Pre-School For the Year Ended 31[st] August 2024
I report on the accounts of Creech St Michael Community Pre-School for the year ended 31 August 2024 which are set out on pages 6 – 13.
Responsibilities and basis of report.
As the charity trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”)
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145 (5)(b) of the Act.
Independent examiners’ statement.
I have completed my examination. I can 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.
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(1) Accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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(2) The accounts do not accord with those records; or
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(3) The accounts do not comply with the applicable requirements concerning the form and contents of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give “true and fair view” which is not a matter considered as part of an independent 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 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 Chartered Certified Accountants 34 North Street Bridgwater Somerset TA6 3YD
Date…………………………..
Page 5
Creech St Michael Community Pre-School
Statement of Financial Activities For the year ended 31 August 2024
| Income Donations & legacies Charitable activities – Pre-school income Commissions receivable Other trading activities Investment income Expenditure Charitable Activities – Pre-school Running costs Other Net Income/(Expenditure) Net movement in funds. Reconciliation of funds: Total Funds Brought Forward Total Funds Carried Forward |
_ __ |
Unrestricted Restricted 2024 Funds Funds Total £ £ £ 798 - 798 125,824 - 125,824 - - - 1,538 - 1,538 756 - 756 128,916 - 128,916 ____ 122,481 - 122,481 99 - 99 _____ 122,580 - 122,580 ____ 6,336 - 6,336 101,793 100,756 202,549 ____ 108,129 100,756 208,885 ________ |
2023 Total £ 254 131,294 - 1,356 341 |
|---|---|---|---|
| 133,245 _ 124,324 113 _ 124,437 _ 8,808 193,741 _ 202,549 _ |
The notes on pages 8 – 13 form part of these financial statements
Page 6
Creech St Michael Community Pre-School
| Balance Sheet at 31 August 2024 Note Fixed Assets Land and Buildings Plant and Machinery 3 Current Assets Debtors Cash and cash equivalents Current Liabilities Creditors Net Current Assets Net Assets The Funds of the Charity Restricted Funds Unrestricted Funds Total Charity Funds 4 |
2024 Total £ 109,144 543 _ 109,687 _ 3,111 103,969 _ 107,080 _ 7,882 _ 99,198 ___ 208,885 _ 100,756 108,129 _ 208,885 _ |
2023 Total £ 109,144 2,186 _ 111,330 _ 8,267 95,782 _ 104,049 _ 12,830 _ 91,219 _ 202,549 _ 100,756 101,793 _ 202,549 __ |
|---|---|---|
These accounts have been approved by the committee and are signed on their behalf by: ………………………… Ms Katherine Griffiths, Chair ………………………. Date ………………………… Ms Samantha Self, Treasurer ………………………. Date
The notes on pages 8 and 13 form part of these financial statements.
Page 7
Creech St Michael Community Pre-School Notes to the Financial Statements For the year ended 31 August 2024
1 Accounting Policies
a) Basis of Accounting
- The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value. The financial statements have been prepared in accordance with the 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 (FRS102) (effective 1 January 2015) – (Charities SORP (FRS102)) Update Bulletin 1 issued February 2016, Update Bulletin 2 issued October 2018, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011.
The Charity constitutes a public entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
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b) Income Recognition
- All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measure reliably.
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c) Expenditure Recognition
- Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to the expenditure, it is probably that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accrual’s basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.
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d) Expenditure on Charitable Activities
- Charitable activities comprise all costs directly incurred in undertaking activities to fulfil the Charity’s objects. The cost of charitable activities consists of Pre-School running costs, support costs and governance costs. This includes all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to the independent examination.
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e) Taxation
As a registered charity, the organisation is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only.
f) Irrecoverable VAT
Irrecoverable VAT is charged against the expenditure heading to which it was incurred
g) Fund Accounting
Funds are classified according to the manner in which they are allowed to be present. The unrestricted general fund represents the accumulation of the Charity’s income and expenditure that has not been earmarked for specific projects and is not considered by the Trustees to be for a restricted purpose. To the extent that the fund is represented 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 2024
g) Fund Accounting (continued)
Restricted funds have been provided to the charity for purposes, 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.
h) Tangible Fixed Assets
Tangible fixed assets include the pre-school hall and fixtures and fittings.
Individual fixed assets costing £1,000 or more are capitalised at cost.
Land and building are considered to have a high residual 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 which do not result in enhancement of economic benefits of a property are charged to the Income and Expenditure Account.
Plant and machinery are stated at historical cost less depreciation so as to write off the cost of tan asset over the useful economic life of that asset as follows:-
Plant and machinery – by equal instalments over 10 years.
The useful economic lives and residual values of all tangible fixed assets are reviewed annually.
i) Cash and Cash Equivalents
Cash and cash equivalents include cash in hand, deposits and other short-term highly liquid investments that are readily convertible to know amounts of cash with insignificant risk of change in value.
- j) Financial Instruments
The charity only has financial assets and liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised as transaction value and subsequently measured at amortised cost.
k) Critical Accounting Judgements and Estimation Uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and adjusted for current market conditions or other factors. The Trustees make estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom be the same as related actual results. The estimates, assumptions and management judgements that carry a significant risk of material adjustments to the carrying amounts of assets and liabilities within the next financial year are outlined below.
l) Residual values of land and buildings
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 determining the residual values of our buildings are mainly due to (i) whether it will continue to be necessary to maintain the properties to a certain standard (ii) the market value of the properties.
Page 9
Creech St Michael Community Pre-School Notes to the Financial Statements For the year ended 31 August 2024
2 Trustees Remuneration and Expenses
No remuneration, other benefits or expenses have been paid to any of the trustees during the year (2023 - £nil).
3 Tangible Fixed Assets
| Cost At 1 September 2023 Additions At 31 August 2024 Depreciation At 1 September 2023 Charge for year At 31 August 2024 Net Book Value At 31 August 2024 At 31 August 2023 |
Land & Buildings £ 109,144 _- _109,144 - __- - __ 109,144 __ 109,144 ______ |
Plant & Machinery £ 16,434 - 16,434 14,248 1,643__ 15,891 _ 543 _ 2,186 ____ |
Total £ 125,578 _- 125,878 14,248 1,643_ 15,891 _ 109,687 _ 111,330 _____ |
|---|---|---|---|
14,248 1,643_ 15,891 ______ |
|||
543 ______ |
|||
2,186 ______ |
Page 10
Creech St Michael Community Pre-School Notes to the Financial Statements For the year ended 31 August 2024
| 4 Statement of Funds 1 September 2023 £ Unrestricted Funds 101,793 Restricted Funds New Hall fund 100,756 _ 202,549 _ Represented by Fixed Assets Net Current Assets |
Income £ 128,916 - _ 128,916 _ |
31 August Expenditure 2024 £ £ 122,580 108,129 - 100,756 _ _ 122,580 208,885 _ _ Unrestricted Restricted Funds Funds £ £ 8,931 100,756 99,198 - __ _ 108,129 100,756 _ _____ |
|---|---|---|
The unrestricted funds represent free funds of the Charity, which are not designed for a particular purpose.
The pre-school purchased a new hall at a cost of £100,756 in the year ended 31 August 2007 out of funds specifically raised for this purpose.
Prior Year Statement of Funds
| 1 September 2022 £ Unrestricted Funds 92,985 Restricted Funds New Hall fund 100,756 _ 193,741 _ Represented by Fixed Assets Net Current Assets |
Income £ 133,245 - _ 133,245 _ |
31 August Expenditure 2023 £ £ 124,437 101,793 - 100,756 _ _ 124,437 202,549 _ _ Unrestricted Restricted Funds Funds £ £ 10,574 100,756 91,219 - __ _____ 101,793 100,756 |
|---|---|---|
Page 11
Creech St Michael Community Pre-School Notes to the Financial Statements For the year ended 31 August 2024
5 Staff Costs
The average number of staff employed during the period was as follows:
| 2024 8 __ The aggregate payroll costs of these persons were as follows: 2024 £ Wages and salaries 93,625 Pensions 1,011 __ 94,636 ______ |
2023 8 _ 2023 £ 94,246 430 __ 94,676 ______ |
|---|---|
There were no employees with emoluments above £60,000 in the year.
The Charity considers it keys management personnel to comprise of the nursery Manager.
Page 12
Creech St Michael Community Pre-School Trading Income and Expenditure Account For the year ended 31 August 2024
| Unrestricted Restricted 2024 Funds Funds Total Total £ £ £ Income Donations 798 - 798 Charitable Activities Fees 26,905 - 26,905 Early Years grant 98,919 - 98,919 Commissions - - - Interest 756 - 756 Other Trading Activities Fundraising events and appeals 1,538 - 1,538 _ _ __ Total Income 128,916 - 128,916 _ _ Expenditure Charitable Activities Wages 94,636 - 94,636 Playgroup supplies 1,864 - 1,864 Upkeep 1,439 - 1,439 Establishment 6,168 - 6,168 Telephone 1,202 - 1,202 Refreshments 1,002 - 1,002 Training 414 - 414 Postage, printing & stationery 320 - 320 Finance service costs 4,383 - 4,383 Repairs 7,959 - 7,959 Uniforms 949 - 949 Depreciation 1,643 - 1,643 Other Miscellaneous 601 - 601 __ _ Total Expenditure 122,580 - 122,580 _ Net Income 6,336 - 6,336 Reconciliation of Funds: Total Funds Brought Forward 101,793 100,756 202,549 _ Total Funds Carried Forward108,129 100,756 208,885 _ ___ |
2023 £ 254 23,955 107,339 - 341 1,356 __ 133,245 94,676 2,552 1,667 12,998 772 1,496 317 540 4,543 1,278 1,605 1,643 350 124,437 8,808 193,741 _ 202,549 ____ |
|---|---|
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