Leitrim Community Playgroup (A company limited by guarantee, not having a share capital) TRUSTEES' ANNUAL REPORT
for the financial year ended 31 August 2023
The trustees present their Trustees' Annual Report, combining the Directors' Report and Trustees' Report, and the unaudited financial statements for the financial year ended 31 August 2023.
The financial statements are prepared in accordance with the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The Trustees' Report contains the information required to be provided in the Trustees' Annual Report under the Statement of Recommended Practice (SORP) guidelines. The trustees of the company are also charity trustees for the purpose of charity law and under the company's constitution are known as members of the board of trustees.
In this report the trustees of Leitrim Community Playgroup present a summary of its purpose, governance, activities, achievements and finances for the financial year 31 August 2023.
The charity is a registered charity and hence the report and results are presented in a form which complies with the requirements of the Companies Act 2006 and, although not obliged to comply with the Statement of Recommended Practice applicable in the UK and Republic of Ireland FRS 102, the organisation has implemented its recommendations where relevant in these financial statements.
Mission, Objectives and Strategy
Mission Statement
To promote play-based learning environments for all children under statutory school age from the area of Leitrim and its surrounding environs in County Down.
Objectives
To promote play based learning environments for all children under statutory school age (the beneficiaries) of Leitrim, Ballyward and its surrounding environs in County Down.
To advance the education of the beneficiaries by the provision of safe and satisfying group play, with the right of parents/carers to become involved in the activities of the group.
Structure, Governance and Management
Structure
Leitrim Community Playgroup is a community managed pre-school playgroup.
The playgroup is managed by a committee. Members of the playgroup (parents or guardians of children attending Leitrim Community Playgroup) elect trustees of the playgroup annually at its AGM by means of a public vote.
Most of Leitrim Community Playgroup’s income is provided by the Education Authority.
Additional funding is provided by way of monthly contributions, donations, pre-preschool payments and fundraising events.
The trustees operate on a voluntary basis and along with collaboration with staff members decide what activities the charity should undertake.
Financial Review
At the year-end 31 Aug 2023 total income was £48,189 and expenditure was £60,571 leaving a loss of £12,382. It was discussed and agreed by committee that there is a need to reduce all costs going forward and to ask for support from the local community to complete essential jobs around the playgroup, voluntarily. Securing sponsorship for snacks would be of benefit in reducing costs monthly and going forward we will ask parents to contribute to supplying resources for the playgroup (tissues, soap, antibacterial wipes etc).
Expenditure
The total running costs for the year involved direct wages, heating, insurance, telephone & internet, repairs, bank fees, snacks & milk.
Financial Results
At the end of the financial year the charity has assets of £218,333 (2022 - £227,900) and liabilities of £3,165 (2022 - £95). The net assets of the charity have decreased by £12,827.
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Leitrim Community Playgroup (A company limited by guarantee, not having a share capital) TRUSTEES' ANNUAL REPORT
for the financial year ended 31 August 2023
Reserves Position and Policy
We have a reserves policy to ensure LCP have a reserve amount, so adequate funds are available for planning and dealing with any financial issues that arise to sustain the group.
We held a Christmas fair during 2023 and a movie night and sponsored walk have been planned for 2024.
A quote for the play frame was received for £2,455. This was discussed at length during the meeting as the money from the Christmas fair was to pay for this. The quote is over what was raised and with finances and current economic climate we have decided to postpone purchasing the playframe at this time. We will revisit this in the future.
Trustees
The trustees who served throughout the financial year, except as noted, were as follows:
Berny Laverty (Resigned 28 February 2023) Bronagh Fleming (Appointed 1 March 2023) Colm Quinn (Appointed 1 March 2023) Jennifer Kasmi (Appointed 9 November 2023) Louise Laverty (Resigned 28 February 2023) Michelle McAleavey (Appointed 28 February 2023) Nicola O'Prey (Appointed 28 February 2023) Rebecca McKendry (Appointed 28 February 2023) Roisin Doyle (Appointed 1 June 2023)
Compliance with Sector-Wide Legislation and Standards
The charity engages pro-actively with legislation, standards and codes which are developed for the sector. Leitrim Community Playgroup subscribes to and is compliant with the following:
■ The Companies Act 2006
■ The Charities SORP (FRS 102)
Approved by the Board of Trustees on 28 March 2024 and signed on its behalf by:
________Rebecca McKendry
Trustee
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