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2024-08-31-accounts

Little Acorns Playgroup

Charity No. Nl101552

Company No.

Trustees' Report and Unaudited Accounts

31 August 2024

Little Acorns Playgroup Contents

Pages
Trustees' Annual Report 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Summary Income and Expenditure Account 7
Balance Sheet 8
Statement of Cash flows 9
Notes to the Accounts 10to 15

Page 1

Little Acorns Playgroup Trustees Annual Report

The trustees, who are also directors of the charity for the 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. Nl101552

Principal Office

20A Derrymore Road Gawleys Gate Craigavon Co. Armagh BT67 0BW

Registered Office

20A Derrymore Road Gawleys Gate Craigavon Co. Armagh BT670BW

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:

A. Doone

A. McCarron

F. Hanna P. Haire E. Burns S. Bustard L. Baker

F. Creaney

Company Secretary

P. Haire

Key Management Personnel

Chairperson Aoibheann Doone Secretary Phillip Haire Vice Secretary Fionnuala Hanna Treasurer Avni McCarron

Page 2

Little Acorns Playgroup Trustees Annual Report

Bankers

First Trust Bank 18-20 Scotch Street Dungannon BT66 6AQ

OBJECTIVES AND ACTIVITIES

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 still 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. The mobile that the playgroup currently resides in is old and requires almost continuous maintenance to keep it safe 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 neighboring 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 25/26. The setting also invested in technology similar to the neighboring primary school to assist the playgroup children with their transition to primary 1. 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 continued to be 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 2024 with new Committee members, bringing in new and exciting ideas and talents to the setting and I am hopeful that the accounts will reflect better in the next report.

FINANCIAL REVIEW

This has been a particularly disappointing year for the charity due to the Cost of Living Crisis continuing to erode potential sources of funds.

Little Acorns operates a reserves policy to ensure sufficient funds are ring fenced to cover any winding up costs 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 24/25 to date appear to show that the results in 2025 will be improved.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The type of governing document is by constitution and is constituted by unincorporated association.

Trustees are nominated 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 Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection 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 102).

Signed on behalf of the board

A.McCarron Trustee 23 June 2025

Page 4

Little Acorns Playgroup Independent Examiners Report

Independent Examiner's Report to 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 2024.

Responsibilities and basis of report

As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('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 respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) 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:

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.

Michelle Harbinson

2 Colane Road Aghagallon Co. Armagh BT67 9JT 23 June 2025

Page 5

Little Acorns Playgroup Statement of Financial Activities

for the year ended 31 August 2024

Notes
Income and endowments from:
Donations and legacies
4
Charitable activities
5
Investments
6
Total incoming resources
Expenditure on:
Charitable activities
7
Governance costs
8
Total resources expended
Net income/(expenditure)
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
Total
Funds
2024
Total
Funds
2023
£
£
£
£
5,387
5,387
17,239
78,067
2,000
80,067
48,389
1,315
1,315
442
84,770
2,000
86,770
66,070
95,302
95,302
86,009
1,080
1,080
1,080
96,382
-
96,382
87,089
(11,612)
2,000
(9,612)
(21,019)
67,298
67,298
88,317
55,686
2,000
57,686
67,298

All incoming resources and resources expended derive from continuing activities.

The company has no recognised gains or losses for the year other than the results above.

Page 6

Little Acorns Playgroup

Summarv Income and Expenditure Account

for the year ended 31 August 2024

Income
Interest and investment income
Gross income for the year
Expenditure
Total expenditure for the year
Net expenditure for the year		 2024
2023
£
£
85,455
65,628
1,315
442
86,770
66,070
96,382
87,089
96,382
87,089
(9,612)
(21,019)

Page 7

Little Acorns Playgroup Balance Sheet

Notes 2024 2023
£ £ £ £
Fixed Assets
Tangible Assets 10 2,475 -
Current Assets
Cash at Bank and in Hand 60,778 69,766
Debtors 50
Creditors 11 - (308)
Net Current Assets 60,827 69,458
Total Assets less Current Liabilities 63,302 69,458
Accruals and deferred income 11 (5,616) (2,160)
Net Assets 57,686 67,298
Funds
Restricted Funds 12 2,000 -
Unrestricted General Funds 12 55,686 67,298
Total Funds 57,686 67,298

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 August 2023 the company was entitled to exemption under section 477 of the Companies Act 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 23 June 2025

And signed on its behalf by:

A.McCarron Trustee 23 June 2025

Page 8

Little Acorns Playgroup Statement of Cash flows

for the year ended 31 August 2023

Cash flows from operating activites
Net expenditure per SOFA
Adjustments for:
Dividends, interest and rents from investments
Depreciation
Increase in trade and other receivables
Increase in trade and other payables
Net cash used in operation activities
Cash flows from investing activites
Purchase of equipment
Dividends, interst and rents from investments
Net cash from investing activities
Net cash from financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Compenents of cash and cash equivalents
Cash and bank balances		 2024
£
(9,612)
(1,315)
825
(50)
3,148
(7,004)
(3,300)
1,315
(1,985)
-
(8,988)
69,766
60,778
60,778
60,778		 2023
£
(21,019)
(442)
1,388
(20,073)
442
442
-
(19,631)
89,397
69,766
69,766
69,766

Page 9

Little Acorns Playgroup Notes to the Accounts

for the year ended 31 August 2024

Basis of preparation

The financial statements have been prepared in accordance with 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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies 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 accounts 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. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Income Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income 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 Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional 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 is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) 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/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 10

Little Acorns Playgroup Notes to the Accounts

Expenditure

Expenditure is recognised on an accruals basis. Expenditure includes any VAT which Recognition of cannot be fully recovered, and is reported as part of the expenditure to which it expenditure relates. These comprise the costs associated with attracting voluntary income, fundraising Expenditure on trading costs and investment management costs. raising funds These comprise the costs incurred by the Charity in the delivery of its activities and Expenditure on

Charitable activities services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. Governance costs 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. Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

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 Activities 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 allowing for any trade discounts due.

Page 11

Little Acorns Playgroup

Notes to the Accounts

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 risks 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 as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction 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 contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses 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

Income and endowments from:
Donations and legacies
Charitable activities
Investments
Total incoming resources
Expenditure on:
Charitable activities
Governance costs
Total resources expended
Net income/(expenditure)
Total funds brought forward
Total funds carried forward
4
Income from donations and legacies
Donations
5
Income from charitable activities
6
Income from investments
Bank interest
7
Expenditure on charitable activities
Expenditure on charitable activities		 Unrestricted
£
5,387
5,387
Unrestricted
£
78,067
78,067
Unrestricted
£
1,315
1,315
Unrestricted
£
95,302
95,302		 Restricted
£
-
-
Restricted
£
2,000
2,000
Restricted
£
-
-
Restricted
£
-
-		 Unrestricted
funds
2023
£
17,239
48,389
442
66,070
86,009
1,080
87,089
(21,019)
88,317
67,298
Total
2024
£
5,387
5,387
Total
2024
£
80,067
80,067
Total
2024
£
1,315
1,315
Total
2024
£
95,302
95,302		 Total
Fund
2023
£
17,239
48,389
442
66,070
86,009
1,080
87,089
(21,019)
88,317
67,298
Total
2023
£
17,239
17,239
Total
2023
£
48,389
48,389
Total
2023
£
442
442
Total
2023
£
86,009
86,009

Page 13

Little Acorns Playgroup Notes to the Accounts

8
Other expenditure
Independent examiners fees
9
Staff costs
No employees received emoluments in exce
10
Tangible fixed assets
Cost
At 31 August 2023
Additions
Disposals
At 31 August 2024
Depreciation
At 31 August 2023
Depreciation charge for the year
Depreciation on disposals
At 31 August 2024
Net book value
At 31 August 2023
At 31 August 2024
11
Creditors
amounts falling due within one year
Other taxes and social security
Accruals		 Unrestricted
£
1,080
1,080
ss of £60,000		 Restricted
£
-
-		 Total
2024
£
1,080
1,080
Computer
Equipment
0.00
3,300.00
3,300.00
0.00
825.00
825.00
0.00
2,475.00
2024
£
-
5,616
5,616		 Total
2023
£
1,080
1,080
Total
0.00
3,300.00
0.00
3,300.00
0.00
825.00
0.00
825.00
0.00
2,475.00
2023
£
308
2,160
2,468

Page 14

Little Acorns Playgroup

Notes to the accounts

12 Movement in funds

Restricted funds:
Unrestricted funds:
Total funds:
13
Analysis of net assets between funds
Net current assets
14
Reconciliation of net debt
Cash and cash equivalents
Net debt		 At 1
September
2023
£
67,298
67,298		 Incoming
resources
£
2,000
84,770
86,770
Unrestricted
funds
£
55,686
55,686
At 1
September
2023
£
69,766
69,766
69,766		 Resources
expended
£
-
(96,382)
(96,382)
Restricted
funds
£
2,000
2,000
Cash flows
£
(8,988)
(8,988)
(8,988)		 At 31
August
2024
£
2,000
55,686
57,686
Total
£
57,686
57,686
At 31
August
2024
£
60,778
60,778
60,778

15 Related party disclosures

The trustees have confirmed that there were no related party transactions during the reporting period (prior year: none

Page 15