Little Acoms Playgroup Charity No. N1101552 Company No. Trustees, Report and Unaudtted Accounts 31 August 2023
Little Acorns Playgroup Contents Pages Trustees, Annual Report Independent Examiner'5 Report Statement of Financial Activities 2to4 Summary Income and Expenditure Account Balance Sheet Statement of Cash flows Notes to the Accounts IOto15 Detailed Statement of Financial Activities 16to Page I
Little Acorns Playgroup Trustees Annual Report The trustees, who are also direttors of the charity forthe purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 August 2023. REFERENCE AND ADMINISTRATIVE DETAILS Company No. Charity No. N1101552 Principal Office 20A Derrymore Road Gawleys Gate Craigavon Co. Armagh BT67 OBW Registered Office 20A Derrymore Road Gawley5 Gate Craigavon Co. Armagh BT67 OBW Directors and Trustees The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: L. Devereux A. Doone D. Doone S. Larkin C. Mccrory Company Secretary P. Haire Key Management Personnel Chairperson Secretary Treasurer Loretta Deverux Phillip Haire Aoibheann Doone Accountants Byrne Mccann & Co. Ltd. 67 Edward Street Lurgan Co. Armagh BT66 6DD Page 2
Little Acorns Playgroup Trustees Annual Report Bankers First Trust Bank 4 Market Street Lurgan Co. Armagh BT66 6AQ OBJEcfivES AND AcllviTIES The purpose of the charity is to provide a safe and stimulating environment to learn through play for all children (the beneficiaries) in our rural area. We provide activities both planned and unplanned based on our ethos of 'Learning through Play, set out in the curricular guidance for preschool education. The charity has a close relationship with the local primary school enabling us to ease the transition from preschool to primary School with minimum impact for the child. Little Acorns was established to provide quality Early Years education & personal development for preschool children aged between 2 years 10 months and 4 years 11 months for the Gawley's Gate and neighbouring areas, in an inclusive & diverse environment. We strive to ensure that the individual needs and abilities of the child are recognised and developed. We offer a safe and stimulating environment for all children. regardless of race, religion or gender. The trustees confirm that they have had due regard to guidance produced by the Charity Commission's benefit requirement statutory guidance. ACHIEVEMENTS AND PERFORMANCE Little Acorns Playgroup and Afterschool have continued to face tough times within the sector. The setting has not returned to normal since the Covid-19 pandemic, with parents not availing of our once very popular breakfast club and afterschool. This was previously a huge revenue generator for the setting and the drop in numbers is currently being looked at. with new ideas emerging on how to boost numbers. In September 2023 we began to host various 'after5chool clubs which mirrored clubs which ran in the neighbouring school. This saw a huge increase in numbers and increased money being brought into the setting. The mobile that the playgroup currently resides in 15 old and requires almost continuous maintenance to keep itsafe for purpose. The costs of this are very high and eat away at any fund raising gains we have achieved. With the development of the new school neighbouring Little Acorns, it is not the right time to consider a new building but this decision may need revisited sooner by the new committee that will sit in 24125. The setting also invested heavily in new furniture both inside and outside to further develop the setting and keep it in line with best practice. These developments are there for the benefit of all the children within the setting especially those who may have additional needs. One last thing to note is that there has also been a steady decline in voluntary parent donations, which is likely due to the increased cost of living crisis. There has been a tremendous amount of work put in from September 2023 with a large turnover of Committee members, bringing in new and exciting ideas and talents to the setting and l am hopeful that the accounts will reflect better in the next report. FINANCIAL REVIEW This has been a particularly disappointing year for the charity with the widespread negative effects of Covid-19 and the Cost of Living Crisi5 continuing to erode potential source5 of funds. Little Acorns operates a reseNes policy to ensure sufficient funds are ring fenced to cover any winding up cost5 and has sufficient reserves in place to cover the requirements of this policy at this point. Page 3
Little Acorns Playgroup Trustees Annual Report The results do suggest a certain amount of uncertainty at year end but an analysis of figures in 23124 to date appear to show that the results in 2024 will be improved. STRUCTURE, GOVERNANCE AND MANAGEMENT The type of governing document is by constitution and is constituted by unincorporated association. Trustees are norninated and voted onto committee, by those attending. Those who are nominated need to be seconded to become a committee member. Office bearers must have held a vice role where possible before taking an office bearing role. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustee5 are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detertion of fraud and other irregularities. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP {FRS 1021. Signed on behalf of the board A. Doone Trustee 25June 2024 Page 4
Little Acorns Playgroup Independent Examiners Report Independent Examiner's Reportto the trustees of Little Acorns Playgroup I report to the charity trustees on my examination of the financial Statements of Little Acorns Playgroup for the year ended 31 August 2023. Responsibilities and basis of report As the charity's trustees of the company land also it5 direttors for the purposes of cornpany lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20061'the 2006 Act. Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respert of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Dirertions given by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent examiner's 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: accounting records were not kept in accordance with section 386 of the 2006 Att . or the financial statements do not accord with those records; or the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair, view which is not a matter considered as part of an independent examination- or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting 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 IFRS 1021. 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 in order to enable a proper understanding of the financial statements to be reached. RAYM ND MCCANN FCCA Byrne Mccann & Co. Ltd. 67 Edward Street Lurgan Co. Armagh BT66 6DD 25 June 2024 Page 5
Little Acorns Playgroup Statement of Financial Activities forthe year ended 31 August 2023 Unrestricted funds Total funds Total funds 2023 2023 2022 Notes Income and endowments from: Donation5 and legacies Charitable activities Investments 17,239 48,389 442 17,239 48,389 442 6,357 69,273 15 Total 66,070 66.070 75,645 Expenditure on: Charitable activities Other 86,009 1.080 86,009 1,080 75,479 1,506 Total 87,089 87,089 76,985 Net gains on investments Net expenditure Transfers between funds 121,0191 121,0191 11,3401 Net expenditure before other gain5/(10sses) 121,0191 121,019) 11.3401 Other gains and losses Net movement in funds 121,0191 121.0191 11,3401 Reconciliation of funds: Total funds brought forward 88,317 88,317 89,657 Total funds carried forward 67,298 67,298 88,317 Page 6
Little Acorns Playgroup Summary Income and Expenditure Account forthe year ended 31 August 2023 2023 2022 Income 65,628 75,630 Interest and investment income 442 15 Gross income forthe year Expenditure 66,070 75,645 87,089 76,985 Total expenditure for the year Net expenditure before tax for the year 87.089 76,985 121,0191 11,3401 Net expenditure for the year 121.0191 11,3401 Page 7
Lrttle Acorns Playgroup Balance Sheet at 31 August 2023 Company No. Note5 2023 2022 Current assets Cash at bank and in hand 69,766 69.766 12,4681 67,298 89,397 89,397 11,0801 88,317 Creditors: Amount falling due within one year Net current assets io Total assets less current liabilities 67,298 88,317 Net assets excluding pension asset or liability Total net assets 67,298 88.317 67,298 88,317 The funds of the charity Restricted funds Unrestricted funds General funds li li 67,298 88,317 67,298 88,317 Reserves li Total funds 67,298 88,317 These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Forthe year ended 31 August 2023 the company was entitled to exemption under section 477 of the Companies Att 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 25 June 2024 And signed on its behalf by: A. Doone Trustee 25 June 2024 Page 8
Little Acorns Playgroup Statement of Cash flows for the year ended 31 August 2023 2023 2022 Cash flows from operating activities Net expenditure per Statement of Financial Activities {21,0191 11,3401 Adjustments for: Dividends. interest and rents from investments Increase in trade and other payables 1442) 308 1151 Net cash used in operating activities 121,153) 11,3551 Cash flows from investing artivities Dividends, interest and rents from investments 442 15 Net cash from investing activities 442 15 Net cash from financing attivities Net decrease in cash and cash equivalents 120,7111 11,340) Cash and cash equivalents at the beginning of the year 89,397 91,442 Cash and cash equivalents at the end of the year 68,686 90,102 Components of cash and cash equivalents Cash and bank balances 69,766 89.397 69,766 89,397 Page 9
Little Acorn5 Playgroup Notes to the Accounts for the year ended 31 August 2023 l Accounting policies Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charitie5". 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 IFRS IQ21 (effective I January 20151 (Charities SORP IFRS 10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companie5 Act 2006. Change in basis of accounting or to previous accounts There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to account5 for previous years. Fund accounting Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subject to restrittions imposed by the donor or through terms of an appeal. Designated funds Revaluation funds Restricted funds Income Recognition of income Income is included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SOFA. Donations and legacies Voluntary income received by way of grants, donations and gifts is included in the the SOFA when receivable and only when the Charity has uriconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SOFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received 15 not included in the account5. Investment income This is included in the accounts when receivable. Gains/llossesl on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/llossesl on investment assets This includes any gain or loss on the sale of investments. Page 10
Little Acorns Playgroup Notes to the Accounts Expenditure Recognition of expenditure Expenditure is recogni5ed on 2n accruals basis. Expenditure include5 any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attratting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of it5 objects. including the making of grants and governance costs. All grant expenditure is accounted for on an actual paid ba515 plus an accrual for grants that have been approved by the trustee5 at the end of the year but not yet paid. These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. These are support costs not allocated to a particular activity- Grants payable Governance costs Other expenditure Taxation The charity is exempt from corporation tax on its charitable artivities. Freehold investment property Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activitie5 as they arise. Stocks Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position. bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows. cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after Ilowing for any trade discounts due. Page 11
Little Acorns Playgroup Notes to the A¢¢ounts Research and development Expenditure on research and development is written off in the year in which it is incurred. Foreign currencies Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net income/expenditure. Leased assets Where the charity enters into a lease which entails taking substantially all the ri5k5 and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower. at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately. unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised a5 an expense on a straight-line basis over the lease term. In the event that lease incentive5 are received to enter into operating leases. such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduttion of rental expense on a straight-line basis. Pension costs The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contribution5 into a separate entity. Once the contributions have been paid the company has no further payments obligation5. The contributions are recognised as expense5 when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. Receipt of donated goods. facilities and services All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity- 2 Company status The company is a private company limited by guarantee and consequently does not have share capital. Page 12
Little Acorns Playgroup Notes to the Accounts 3 Statement of Financial Activities- prior year Unrestrirted funds Total funds 2022 2022 Income and endowments from: Donations and legacies Charitable activities Investments 6,357 69,273 15 6,357 69,273 Is Total 75,645 75,645 Expenditure on.. Charitable activities 75,479 75,479 1,506 Other 1,506 Total 76,985 76,985 Net income 11,3401 11.3401 Net income before other gains/(10sses) Othergains and losses: 11,3401 11.3401 Net movement in funds 11,3401 {1,340} Reconciliation of funds: Total funds brought forward Total funds carried forward 89,657 89,657 88,317 88,317 4 Income from donations and legacies Unrestrirted Total Total 2023 2022 17,239 17,239 17,239 17,239 6,357 6.357 5 Income from charitable activities Unrestricted Total Total 2023 2022 48,389 48,389 48.389 48,389 69,273 69,273 Page 13
Little Acorns Playgroup Notes to the Accounts 6 Income from investments Unrestricted Total Total 2023 2022 442 442 15 442 442 15 7 Expenditure on charitable artivities Unrestrirted Total Total 2023 2022 Expenditure on charitable activitie5 86,009 86,009 75,479 Governance costs 86,009 86,009 75,479 8 Other expenditure Unrestricted Total Total 2023 2022 1,080 1,080 1,506 1,080 1,080 1,506 9 Staff costs No employee received emoluments in excess of £60.000. 10 Creditors: amounts falling due within one year 2023 2022 Other taxes and social security Accruals 308 2,160 2,468 1,080 1,080 Page 14
Little Acorns Playgroup Notes to the Accounts 11 Movement in funds Incoming resources (including other gains/lo55es Resources expended At31 Atl September 2022 August 2023 Restricted funds: Unrestricted funds: General funds 88.317 66,070 187,0891 67.298 Total funds 88,317 66,070 187,0891 67,298 12 Analysis of net assets between funds Unrestrirted fund5 Total Net current assets 67,298 67,298 67,298 67,298 13 Reconciliation of net debt Atl At31 August 2023 September 2022 Cash flows Cash and cash equivalents 89,397 89,397 119,6311 119,6311 69.766 69,766 Net debt 89,397 119,6311 69,766 14 Related party disclosures Controlling party Page 15
Little Acorn5 Playgroup Detailed Statement of Financial Attivities for the year ended 31 August 2023 Unrestricted funds 2023 Total funds 2023 Totsl funds 2022 Income and endowments from: Donations and legacie5 17,239 17,239 17,239 17,239 6,357 6,357 Charitable activities 48,389 48,389 48,389 48,389 69,273 69,273 Investments 442 442 15 442 442 15 Total income and endowments 66,070 66,070 75,645 Expenditure on: Charitable activities 86,009 86,009 86,009 86,009 75.479 75,479 Total of expenditure on charitable artivities 86,009 86,009 75,479 Other expenditure 1,080 1,080 1,080 1,080 1,080 1,080 1,506 1.506 1,506 Total of expenditure of other costs Total expenditure Net gains on investments 87,089 87,089 76,985 Net expenditure 121,0191 121,0191 11,3401 Net expenditure before other gains/(losses) OtherGains 121,0191 121,0191 {1,340) Net movement in funds 121.0191 121,0191 11,3401 Reconciliation of funds: Total fund5 brought forward 88,317 88,317 89,657 Total funds carried forbvard 67,298 67,298 88,317 Page 16