COMPANY REGISTRATION NUMBER: N1070413 CHARITY REGISTRATION NUMBER: XR75184 LAURENCETOWN PRE-SCHOOL PLAYGROUP Company Limited by Guarantee Unaudited Financial Statements 31 July 2024 OUNTANTS LTD Chartered accountants 35 CHURCH SQUARE BANBRIDGE CO DOWN BT32 4AP LAURENCETOWN PRE-SCHOOL PLAYGROUP Company Limited by Guarantee Financlal Statements Year ended 31 July 2024 Page Trustees, annual report (incorporating the director's report) Independent examinerfs report to the trustees Statement of financial activities (including Income and expenditure account} Statement of financial position Notes to the financial statements LAURENCETOWN PRE-SCHOOL PLAYGROUP Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 July 2024 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements cf the chan'ty for the year ended 31 July 2024. Refer8nce and administratlvo details Registered eharlty name LAURENCETOWN PRE-SCHOOL PLAYGROUP Charlty registratlon number XR75184 Company reglstratlon number N1070413 Prlnclpal offlce and r8gistered Drumnascamph Road offlce Laurencetown Craigavon BT63 6DU The trustees P Mcconnon H Maleer A Mccavlgan C Patience H McGoldrick R McKeown K Murphy F Malone (Resigned 23 September 2024) (Resigned 23 September 2024} (Flesigned 4 November 2Q24> Company secretary Helen Mate8r Independent examiner Seamus Ryan FCA 35 CHURCH SQUARE BANBRIDGE CO DOWN BT32 4AP Structure, governanc& and management With effect from 1st October 2008, LaurenTrtown Playgroup {an unincorporated association) changed to Laurencetown Pre-school Playgroup la limited company by guaranteel- The company is governed by its Memorandum and Articles of Association which were adopted on 12th June 2008. It 13 recognised by HM Revenue & Customs as a charity for tax purposes, The group is managed by a Committee elected at its AGM by members. The Committee consists of no less than five and no more than fifteen elected members, At the AGM there were nine on the Pre-school Playgroup Committee. Membership of the group falls into two categories i.e. 'Family Members, (parentslcarers of all children who attend the group, each family to have one vote and count as one member) and 'Other Members, (other interested individuals, persons or other bodies approved by the Committee). LAURENCETOWN PRE-SCHOOL PLAYGROUP Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continuedj Year ended 31 July 2024 Objectives and activitlgs Laurencetown Pre-school Playgroup exists to achieve the following aims.. 1, To create a purposeful, stimulating, supportiva and safe environment for all the children. 2. To motivate and engage the children aclively in leaming through play, 3. To foster relationships, develop self-confidence, and respect of themselves and others. 4. To promote and value children's own ideas, thoughts and selflbl of the 2008 Acl. Independent examiner's Statement I have completed my examination, I confirm that no matters have come to my altention in conneclion with my examination giving me cause to believe that in any material respect= accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act" or the financial statements do not accord with those records,. or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, view which is not a matter cortsidered as part Df an independenl examination., or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for 8ccounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}. I confirm that there are no other matlers lo which your attention should be drawn to enable a proper understanding of the accounts to be reached. Seamus Ryan FCA Independent Examiner 35 CHURCH SQUARE BANBRIDGE CO DOWN BT32 4AP LAURENCETOWN PRE-SCHOOL PLAYGROUP Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 July 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Nots Income and endowments Donations and legacies Other trading activities Total income 36,756 36,75S 18,315 55,071 39,327 12,782 52,109 18,315 18,315 38,756 Expendlture Expenditure an raising funds.. Cost5 of raising donations and legacies Total expenditure 5,830 5,830 50,367 56,197 56,197 52,248 52,248 50,367 Net 8XP8nditure and net movement in funds 12,485 (13,e11) (1,126) 1139} Reconciliation of fund8 Total funds brought forward Total funds carried forward 24,523 37,008 24,523 23,397 24,662 24,521 113,611> The statement of financial activities includes all gains and losses recognised in the year. All income and expendilure derive from continuing activities. The notes on pages 7 to 15 form part of these financial statements. LAURENCETOWN PRE-SCHOOL PLAYGROUP Company Limitsd by Guarantee Statement of Financial Position 31 July 2024 2024 2023 Note Fixed assets Tangible fixed assets 12 805 1,074 Curr6nt assets Debtors Cash at bank and in hand 13 1,704 21,487 23,191 458 23,591 24,049 Creditors: amounts falllng due wlthln one year Net current assets 14 599 600 22,592 23,397 23,449 Total asset8 le86 current liabllltles 24,523 Funds of the charlty UnrestriGted funds 23,397 23,397 24,521 24,521 Total charity funds 18 For the year ending 31 July 2024 the charity was entitled lo exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities-. The rnembers have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476., The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financi81 slatemenls have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 7 November 2024, and are signed on behalf of the board by: P Mcconnon Trusteè H Mateer Trustee The notes on pages 7 to 15 fomi part of these financial statoments. LAURENCETOWN PRE-SCHOOL PLAYGROUP Company Limited by Guarantee Notes to the Financial Statements Year ended 31 July 2024 General information The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is Drumnascamph Road, Laurencetown, Craigavon, BT63 6DU. Statement of compllance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended practi￿ applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic Of Ireland (FRS 102) (Charities SORP {FRS 102)) and the Companies Act 2006. Accounting policies Ba818 of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assels and liabilities and Investment properties measured at fair value through inGome or expenditure, The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no malerial uncertainties about the charity's ability to continue. Disclosure exemptions The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of (enter name of group financial slatemenls} which can be obtained from (enter detail). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1,12 of FRS 102.. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectation5=0f=..-- fuEure events that are believed to be reasonable under the circumstances, LAURENCETOWN PRE-SCHOOL PLAYGROUP Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year endad 31 July 2024 Accounting polici88 (contlnued) Fund accounting Unrestricted funds are available for use at the discretion of the trustees io further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub-classes= restricted income funds or endowment funds. Incoming r8sourc88 All incoming resources are included in the statement of financial activities when entitlement has passed to the charlty., it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured, The following specific policies are applied to particular categories of income.. income from donalions or grants is recognised when there is evidence Df entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractiC31 to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities anLI services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contributlon of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. LAURENCETOWN PRE-SCHOOL PLAYGROUP Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 July 2024 Accounting pollcles (contlnued) Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising aclivities, evenls, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all Gosts incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable aGtivities. All costs are allocated to expenditure Gategories reflecting the use of the resource. Direct costs attributable eo a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accurnulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrèase in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the stalement of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows,, Fixtures and fittings 25 /0 reducing balance Impalrment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. LAURENCETOWN PRE-SCHOOL PLAYGROUP Company Limited by Guarantee Notss to the Financial Statements (continued) Year ended 31 July 2024 Accounting pollcles (continued) Impairment of fixed assets (¢ontsnufjdJ For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit lo which the asset belongs, The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impaiment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of Ihe charity are assigned to those units. Governmant grants Government grants are recognised at the fair value of the asset received Dr receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future perfomance-related conditions on the recipient, it is recagnised in income only when the perfcrmance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a Financial in8trument8 A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial inseruments are Initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instrurnents are subsequently measured at arnortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised In income and expenditure. All other such investments are subsequently measured at cost less impairment. other financial instruments, including derivatives, are initially recognised al fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a markèt rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 10 LAURENCETOWN PRE-SCHOOL PLAYGROUP Company Limited by Guarantee Notss to the Financial Statsments fconfvnuedj Year ended 31 July 2024 Accounting policies (continuedj Flnanclal Instruments (continued) other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, wilh the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was r@Gognised. For all equity instruments regardless of signifi'cance, and other financial assets Ihat are Individually significant, these are assessed individually for impainrent, other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Deflned contribution plans Contributions to defined contribution plans are recognised as an expense in the pertod in which the related Servi￿ 15 provided. Prepaid conlributions are recognised as an asset to the extent that the prepayment will lead to a reduction In future payments or a Gash refund, When contributions are not expected to be settled wholly within 12 months of the end cf the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Limited by guarantee Laurencetown Pre-school Playgroup is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not ex￿edIng £1 to the assets of the charitable company in the evenl of its being wound up while he or she is a member, or within one year after he or she ceases to be a member. Donatlons and legacies Restricted Total Funds Funds 2024 Restricted Total Funds Funds 2023 Grants EAS -Government grant income Awards for All Grants receivable 35,356 35,356 38,488 839 38,488 839 1,400 36,756 1,400 38,756 39,327 39,327 11 LAURENCETOWN PRE-SCHOOL PLAYGROUP Company Limited by Guarantee Notes to the Financial Statements {contlnuedJ Year ended 31 July 2024 other trading activltles Unrestricted Total Funds Unrestricl8d Total Funds Funds 2024 Funds 2023 Fees Fundraising events 14,325 3,990 18,315 14,325 3,990 18,315 10,925 1,857 12,782 10,925 1,857 12,782 Costs of raising donatlons and legacies Unrestricted Funds Restricted Totsl Funds Funds 2024 Expenditure 5,830 50,367 56,197 Unrestricted Funds Restricted Total Funds Funds 2023 Expenditure 7,729 44,521 52,248 Net expenditure Net expenditure is stated after chargingl(Greditingl- 2024 2023 Depreciation of tangible fixed assets 269 358 Independent examlnatlon fees 2024 2023 Fees payable to the independent examiner for.. Independent examination of the financial statements 500 500 10. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2024 2D23 Wages and salaries Employer contributions ID pension plans 36,751 1,332 38,083 35,432 1,042 36,474 12 LAURENCETOWN PRE-SCHOOL PLAYGROUP Company Limited by Guarantse Notes to the Financial Statements fcontinuedj Year ended 31 July 2024 10. staff costs (contlnuad) The average head count of employees during the year was 212023: 2), The average number of full-time equivalent employees during the year is analysed as follows.. 2024 No. 2023 No. Number of staff - type 1 No employee received employee benefits of more than £60,000 during the year (2023. Nil). 11. Trustee remuneration and expens88 No remuneration wa5 received by the trustees during the year. 12. Tangible fix6d assets Fixtures and fittings Cost At 1 August 2023 and 31 July 2024 Depreciation At 1 August 2023 Charge for the year At 31 July 2024 Carrylng amount At 31 July 2024 At 31 July 2023 6,052 4,978 269 5,247 805 1,074 13. Debtors 2024 2023 Prepayments and accrued income other debtors 1,529 175 458 1,704 458 14. Creditors: amounts falling due wlthln one year 2024 2023 Trade creditors 5g9 600 13 LAURENCETOWN PRE-SCHOOL PLAYGROUP Company Limited by Guarantee Notes to the Financial Statements (contlnu8d) Year ended 31 July 2024 15. Deferred Income 2024 2023 At 1 August 2023 Amount released to income 839 (839) 839 1839) At 31 July 2024 16. Pen8ion8 and other post retlrement b6n8fits Defined contribution plans The amount recognised In income or expenditure as an expense in relation to defined contribution plans was £1.332 (2023.. £1,042). 17. Government grants The amounts recognised in the financial statements for government grants are as follow5.. 2024 2023 Recognised in creditors.. Deferred government grants due within one year 839 839 18. Analysls of charitable funds Unrestricted funds At 1 August 202 At Transfers 31 July 2024 Income Expenditure General funds 24,523 18,315 {5,830> (13,611) 23,397 At 1 August 202 At Transfers 31 July 2023 Income Expenditure General funds 24,662 12,782 {7,729} (5,194) 24,521 14 LAURENCETOWN PRE-SCHOOL PLAYGROUP Company Limited by Guarantee Notes to the Financial Statements (continuodj Year ended 31 July 2024 18. Analysis of charltable funds {contlnued) Restricted funds At 1 August 202 At Transfers 31 July 2024 Income Expenditure Restricted Fund 36,756 (50,367) 13,611 At l August 202 At Transfers 31 July 2023 Income Expenditure Restricted Fund 39,327 (44,521 } 5,194 19. Anatysis of net assets between funds U nrestricted Total Funds Funds 2024 Current assets 23,3S7 23,397 Unrestricted Total Funds Funds 2023 Current assets 24,523 24,523 15