DocuSign Envelope ID: 95BB6EAC-6817-45F7-A2B0-DE261D275D73
## **Charity Registration Number NIC103619**
**Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 August 2023**
**For Little Rainbows Early Years**
DocuSign Envelope ID: 95BB6EAC-6817-45F7-A2B0-DE261D275D73
## **Little Rainbows Early Years Contents of the Financial Statements for the Year Ended 31 August 2023**
||**Page**|
|---|---|
|Report of the Trustees|1 to 2|
|Independent Examiner’s Report|3|
|Statement of Financial Activities|4|
|Balance sheet|5|
|Notes to the Financial Statements|6 to 10|
|Detailed Statement of Financial Activities|11 to 12|
DocuSign Envelope ID: 95BB6EAC-6817-45F7-A2B0-DE261D275D73
## **Little Rainbows Early Years Report of the Trustees For the Year Ended 31 August 2023**
The trustees present their report with the financial statements of the charity for the year ended 31 August 2023.
The trustees have adopted the provisions of ‘’Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) 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 2019)’’.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The Group is established to promote play based learning environments for all children over three and under statutory school age of the Fallaghgloon area without distinction of, gender, disability, nationality, ethnic identity, political or religious background.
- a) To advance education, encourage group play, parents/carers actively involved and to the promotion of health & well-being of the children.
- b) To support the values and principles of Early Years
## **Public benefit**
To promote play based learning environments for all children over three and under statutory school age.
The direct benefits that flow from this purpose are improved learning outcomes, development, language skills, social integration, and emotional wellbeing for all the children at the play group. Another benefit is the improved relationship with parents/carers.
The direct benefits that flow from this purpose is the provision of a safe healthy and stimulating environment in which children can learn through play and develop their own talents and personalities to their full potential.
All the above benefits can be demonstrated by feedback from parents and reports from an independent Early Years advisor. The play group also gets regularly inspected by Social Services and Early Years organisation.
There continues to be no private gain to any individual member.
In setting our objectives and planning our activities for the year the trustees have given careful consideration to the Charity Commission for Northern Ireland’s guidance on public benefit to ensure that the activities have helped to achieve the charity’s purposes and provide a benefit to the beneficiaries.
## **FINANCIAL REVIEW**
## **Financial position**
Net income/(expenditure) for the year was (£5,357) [2022: £5,815] and unrestricted funds at the year-end were £59,724 [2022: £65,082].
Funds are in a good state financially.
1
DocuSign Envelope ID: 95BB6EAC-6817-45F7-A2B0-DE261D275D73
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Weekly meetings are held with management and staff to plan the flow of work and given tasks etc. Feedback controls with staff and parents are maintained. Monthly meeting of the trustees and senior management take place to discuss the direction of the organisation, finances, funding, risks, and other issues.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity Number**
103619
## **Principal address**
Little Rainbows Early Years 189 Glen Road Maghera BT46 5JN
## **Trustees**
T Montgomery - Resigned 18/10/2022 D Higgins F McCloy R McQuiston - Appointed 18/10/2022
## **Independent examiner**
SCC Chartered Accountants 17 College Street Armagh BT61 9BT
6/28/2024
Approved by order of the board of trustees on ________________ and signed on its behalf by.
____________________ F McCloy - Trustee
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DocuSign Envelope ID: 95BB6EAC-6817-45F7-A2B0-DE261D275D73
## **Little Rainbows Early Years**
## **Independent Examiner’s Report to the Trustees of Little Rainbows Early Years**
I report to the charity trustees on my examination of the accounts of the Little Rainbows Early Years (the Trust) for the year ended 31 August 2023.
## **Respective responsibilities of trustees and examiner**
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act (Northern Ireland) 2008. It is my responsibility to:
- Examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008;
- ▪ Follow the procedures laid down in the general directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act; and
- State whether particular matters have come to my attention.
## **Basis of independent examiner's report**
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
1. That accounting records were not kept in accordance with section 63 of the Charities Act 2008
2. That the accounts do not accord with those accounting records
3. That the accounts do not comply with the accounting requirements of the Charities Act 2008
4. That there is further information needed for a proper understanding of the accounts to be reached.
## **Independent examiner's statement**
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
________________ Mr. Noel Convery SCC Chartered Accountants 17 College Street Armagh BT61 9BT
6/27/2024 Dated: ________________
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DocuSign Envelope ID: 95BB6EAC-6817-45F7-A2B0-DE261D275D73
## **Little Rainbows Early Years Statement of Financial Activities for the Year Ended 31 August 2023**
|**Notes**
**Income and endowments**
**from:**
Donations and Legacies
2
**Charitable activities**
Charitable activity
**Total Income**
**Expenditure on**:
**Charitable activities**
Charitable activity
3
**Net income/(expenditure)**
**Reconciliation of funds: **
**Total funds brought forward**
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**31.8.23**
**Total**
**Funds**
**£**
**31.8.22**
**Total**
**Funds**
**£**
400
-
400
-
54,620
-
54,620
66,471|
|---|---|
||**55,020**
**-**
**55,020**
**66,471**|
||60,377
-
60,377
60,656|
||**(5,357)**
**-**
**(5,357)**
**5,815**
**65,082**
**-**
**65,082**
**59,267**|
||**59,724**
**-**
**59,724**
**65,082**|
The notes form part of these financial statements
4
DocuSign Envelope ID: 95BB6EAC-6817-45F7-A2B0-DE261D275D73
## **Little Rainbows Early Years Balance Sheet As at 31 August 2023**
|**Fixed Assets**
**Notes**
Tangible assets
**6**
**Current Assets**
Debtors
**7**
Cash at bank and in hand
**Creditors:**amounts falling due
within one year
**8**
**Net current assets/(liabilities)**
**Total assets less current**
**liabilities**
**Net Assets**
**Funds**
Unrestricted funds
Restricted funds|**£**
-
52,126|**31.8.23**
**£**
13,400
46,324|**£**
-
55,345|**31.8.22**
**£**
14,108
50,974|
|---|---|---|---|---|
||52,126
(5,802)||55,345
(4,371)||
||59,724
-||65,082
-||
|||59,724||65,082|
|||59,724||65,082|
|||59,724||65,082|
||||||
|||59,724||65,082|
6/28/2024
The financial statements were approved by the Board of Trustees on ________________ and signed on its behalf by
____________________
F McCloy - Trustee
The notes form part of these financial statements
5
DocuSign Envelope ID: 95BB6EAC-6817-45F7-A2B0-DE261D275D73
**Little Rainbows Early Years Notes to the Financial Statements For the Year Ended 31 August 2023**
## **1. Accounting policies**
## **Basis of preparation**
The financial statements of the charity, which is a public benefit entity under FRS 102 have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’’.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under gift aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, as receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## **Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
6
DocuSign Envelope ID: 95BB6EAC-6817-45F7-A2B0-DE261D275D73
Expenditure on charities activities includes the cost of services undertaken to further the purposes of the charity and their associated support costs. Supports costs are those functions that assist the work of the charity but do not directly undertake charitable activities.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvement to property - 4% straight line Plant & machinery - 20% straight line Fixtures and fittings - 20% straight line
## **Pension**
The charity operates a defined contribution pension scheme. Contributions payable to the charity’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **2. Donations and legacies**
|Donations and gifts
**3. Support & governance costs**
Charitable Activity|**Unrestricted**
**funds**
**31.8.23**
**31.8.22**
**£**
**£**
**£**
**400**
**400**
-|
|---|---|
||**Unrestricted**
**funds**
**31.8.23**
**31.8.22**
**£**
**£**
**£**
**60,377**
**60,377**
60,656|
||**60,377**
**60,377**
60,656|
## **4. Trustees**
There were no trustees’ remuneration or other benefits received for the year ended 31 August 2023 nor for the year ended 31 August 2022.
## **Trustees’ expenses**
There were no trustees’ expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
||**31.8.23**|**31.8.22**|
|---|---|---|
|Staff|5|4|
No employees received emoluments in excess of £60,000.
7
DocuSign Envelope ID: 95BB6EAC-6817-45F7-A2B0-DE261D275D73
## **Little Rainbows Early Years Notes to the Accounts - continued For the Year Ended 31 August 2023**
## **5. Comparatives for the statement of financial activities**
|**Income and endowments from:**
Donations and legacies
**Charitable activities**
Charitable activity
**Total**
**Expenditure on:**
**Charitable activities**
Charitable activity
**Total**
**Net Income**
Reconciliation of funds
Total funds brought forward
Total funds carried forward
**6. Tangible fixed assets**
**Cost**
At 1 September 2022
Additions
At 31 August 2023
**Depreciation and impairment**
At 1 September 2022
Charge for period
At 31 August 2023
**Carrying Amount**
At 31 August 2023
At 31 August 2022|**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**funds**
**£**
**£**
**£**
-
-
-
66,471
-
66,471|
|---|---|
||**66,227**
**-**
**66,427**
60,656
-
60,656|
||**60,656**
**-**
**60,656**
**5,815**
**-**
**5,815**
59,267
-
59,267|
||65,082
-
65,082|
||**Improvements**
**to Property**
**Plant and**
**machinery**
**Total**
**£**
**£**
**£**
14,167
6,336
20,503
1,173
-
1,173|
||15,340
6,336
21,676|
||1,327
5,069
6,395
613
1,267
1,881|
||1,940
6,336
8,276|
||13,400
-
13,400|
||12,840
1,267
14,108|
8
DocuSign Envelope ID: 95BB6EAC-6817-45F7-A2B0-DE261D275D73
## **7. Debtors**
|Other debtors|**31.8.23**
**31.8.22**
**£**
**£**
-
-|
|---|---|
||-
-|
## **8. Creditors: Amounts falling due within one year**
|Trade creditors
Taxation and social security
Other creditors
Accruals|**31.8.23**
**31.8.22**
**£**
**£**
1,392
-
1,983
836
297
525
2,130
3,010|
|---|---|
||5,802
4,371|
## **9. Funds**
|**Unrestricted**
**funds**
**Balance at**
**1 Sep 2022**
**Incoming**
**Resources**
**£**
**£**
**Unrestricted funds**
General fund
65,082
55,020
**Restricted funds**
Grants
-
-
Total funds
65,082
55,020
**Unrestricted**
**funds**
**Balance at**
**1 Sep 2021**
**Incoming**
**Resources**
**£**
**£**
**Unrestricted funds**
General fund
59,267
66,471
**Restricted funds**
Grants
-
-
Total funds
59,267
66,471|**Unrestricted**
**funds**
**Balance at**
**1 Sep 2022**
**Incoming**
**Resources**
**£**
**£**
**Unrestricted funds**
General fund
65,082
55,020
**Restricted funds**
Grants
-
-
Total funds
65,082
55,020
**Unrestricted**
**funds**
**Balance at**
**1 Sep 2021**
**Incoming**
**Resources**
**£**
**£**
**Unrestricted funds**
General fund
59,267
66,471
**Restricted funds**
Grants
-
-
Total funds
59,267
66,471|**Resources**
**expended**
**£**
(60,377)
-|**Transfers /**
**Investment**
**Balance at**
**31 Aug 2023**
**£**
**£**
-
59,724
-
-|
|---|---|---|---|
||65,082
55,020|(60,377)|-
59,724|
|||**Resources**
**expended**
**£**
(60,656)
-|**Transfers /**
**Investment**
**Balance at**
**31 Aug 2022**
**£**
**£**
-
65,082
-
-|
||59,267
66,471|(60,656)|-
65,082|
9
DocuSign Envelope ID: 95BB6EAC-6817-45F7-A2B0-DE261D275D73
## **10. Analysis of net assets between funds 31 August 2023**
||**Unrestricted**|
**Restricted**|**Total**|**Total**|
|---|---|---|---|---|
||**funds**|
**funds**|**31.8.23**|**31.8.22**|
||**£**|**£**|**£**|**£**|
|Tangible Fixed Assets|13,400|
-|13,400|14,108|
|Net current assets/(Liabilities)|46,324|
-|46,324|50,974|
|Total net assets/(liabilities)|59,724|
-|59,724|65,082|
|**Analysis of net assets between funds 31**||**August 2022**|||
||**Unrestricted**|
**Restricted**|**Total**|**Total**|
||**funds**|
**funds**|**31.8.22**|**31.8.21**|
||**£**|**£**|**£**|**£**|
|Tangible Fixed Assets|14,108|
-|14,108|11,441|
|Net current assets/(Liabilities)|50,974|
-|50,974|47,826|
|Total net assets/(liabilities)|65,082|
-|65,082|59,267|
## **11. Contingent liabilities**
A contingent liability exists to repay grants received should certain conditions not be fulfilled by the group. In the opinion of the trustees the terms of the letters of offer have been complied with and a liability is not expected to arise
The group had no other contingent liabilities at 31 August 2023 (2022: NIL).
## **12. Related party disclosures**
There were no related party transactions for the year ended 31 August 2023.
10
DocuSign Envelope ID: 95BB6EAC-6817-45F7-A2B0-DE261D275D73
## **Little Rainbows Early Years Detailed Statement of Financial Activities For the Year Ended 31 August 2023**
|**Income and endowments from:**
**Donations and legacies**
Donations
**Charitable activities**
Dept. of Education
Fundraising
Parental Fees
DEL & BSO
DoH (SPPG/HSCB)
Grants
Early Years Funding
Other
**Total incoming resources**
**Expenditure on**:
**Support & Governance costs**
Wages
Pensions
Insurance
Advertising
Telephone
Postage and stationery
Legal and professional fees
Food & consumables
Recruitment expenses
Staff training
Rent
Bank fees
Carried forward|**31.8.23**
**£**
**31.8.22**
**£**
400
-
41,890
46,218
3,023
912
6,919
6,101
388
110
-
4,732
2,164
5,368
-
3,030
236
-|
|---|---|
||**55,020**
**66,471**|
||41,505
37,919
372
205
644
592
-
-
184
153
356
734
764
710
2,049
1,770
-
-
136
-
5,428
6,176
30
-|
||51,468
48,259|
This page does not form part of the statutory financial statements
11
DocuSign Envelope ID: 95BB6EAC-6817-45F7-A2B0-DE261D275D73
|Brought forward
Property repairs
Early Years Consultant
Resources, toys etc.
Fire Safety
Health & Safety
Dues and subscriptions
Sundry
Water rates
Fundraising & events costs
Uniforms
Interest Paid
Depreciation
Bus hire
**Total resources expended**
**Net income/(expenditure)**|**31.8.23**
**£**
**31.8.22**
**£**|
|---|---|
||51,468
48,259
843
414
1,170
1,380
3,335
5,916
-
-
222
529
784
276
84
40
175
47
2
1,510
163
152
-
-
1,881
1,833
250
300|
||**60,377**
**60,656**
**(5,357)**
**5,815**|
This page does not form part of the statutory financial statements
12