Greengables Preschool Trustees Annual Report and Unaudited Financial Statements for the year ended 31 August 2023 Registered Charity in Northern Ireland (NIC1069681 Pa6e l i
GREENGABLES PRESCHOOL Financial Statements Year ended 31 August 2023 Contents TRUSTEES REPORT.. CHARITY REFERENCE AND ADMINISTRATIVE DETAILS..... STRucfuRE, GOVERNANCE AND MANAGEMENT....,,,,......... oBJEIVEs AND AcfiviTIES................,...............................................................,................................... ACHIEVEMENTS AND PERFORMANCE...................................................................................................... FINANCIAL REVIEW............................................................. INDEPENDENT EXAMINER,,.......,........................................,......... ................,.......................,.................. INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF GREENGABLES PRESCHOOL...........,............. STATEMENT OF FINANCIAL AcfiviTY (INCLUDING INCOME AND EXPENDITURE ACCOUNT)................... BALANCE SHEEr..............................................,,..........,.................................................,...............,....... ...... NOTESTO THE ACCOUNTS........................................,........................,..........................................................
GREENGABLES PRESCHOOL TRUSTEES REPORT Year ended 31 August 2023 CHARITY REFERENCE AND ADMINISTRATIVE DETAILS Registered charity name Greengables Preschool Charity registration number NIC106968 Principal office Greengables Playgroup Class 3/4 Central Primary School Thomas Street Carrickfergus BT38 8AL The trustees Nicola Lowry Nikki Williamson Katny Marshall Emma Montgomery June Redford Alice Surgin Carly Robb IResigned 6 October 2Q22) {Appointed 6 October 2022} Independent examiner Simon Hopper F.C.A. Hopper & Co 6 Doagh Road Ballyclare BT39 9BG STRucfuRE, GOVERNANCE AND MANAGEMENT Greengables is an independent preschool b35ecl in Central Primary School right in the heart of the community of Carrickfergus. Established in the 1980s, we have grown from a small playgroup 5ettin8 into 3 highly accomplished preschool with two morning classes ranging in age from 2 years 10 months to 4 years. We are a registered charity (Charity number NIC 1069681 and are governed by a Trustee Board whose members are named above.
GREENGABLES PRESCHOOL TRUSTEES REPORT {cont'd} Year ended 31 March 2023 OBJEcfivES AND AcfiviTIES Our aim is to provide high quality pre-school education for children aged 2 year 10 months-4 years 11 months. We offer play-ba5ed learning over two classes following the pre-school curriculum. We provide a wide range of activities to simulate the children's imagination, creativity, social, emotional & physical development. The public benefit which comes from these activities is that it prepares each child for their future education in primary School. ACHIEVEMENTS AND PERFORMANCE It has been a very productive year and we are happy to see twenty four children move confidently to Primary l and another twenty children move into their pre-school year. We have had a wide range of learning activities meeting the needs of all the children. They have included Poppin, Pilates, Musical Monkeys, a trip to the farm, a visit from Sant3, Happy healthy Kids day and so much more. A great year. FINANCIAL REVIEW Greengables is financed mainly by EA Grants and fees paid by parents, The results for the year are shown on page 6. A deficit of £9,91812022 - £3,346) has been returned leaving reserves at the financial year end of £6,15712022 £16.075}. INDEPENDENT EXAMINER Hopper & Co., have indicated their willingness to remain in office and a resolution for their re-election will be proposed at the forthcoming Annual General Meeting. The trustee's annual report was approved on trustees by: askbl2.*........ and signed on behalf of the board of Nicola Lowry
Trustee GREENGABLES PRESCHOOL INDEPENOENT EXAMINER'S REPORT TO THE TRUSTEES OF GREENGABLES PRESCHOOL YEAR ENDED 31 AUGUST 23 I report on the financial statement5 of Greengables Preschool for the year ended 31st March 2023 which are contained within the 2023 Annual Report. Respertlve responsibilitie5 of trustees and independent examiner Greengables Preschool's trustees are responsible for the preparation of the financial statement5 in accordance with the terms of the Charities Act (Northern Ireland) 2008. Greengables Presch Dol's trustees consider th at an audit is not required under section 65121 laudit) of the Charities Act (Northern Ireland) 2008 for the year and that an independent examination under section 6411) of the Charities Act (Northern Ireland} 2008 is required. It is my responsibility to: examine the accounts to state whether particular matters have come to my attention. Basis of independent examiner's report My examination was carried out under Section 65 of the Charities Act (Northern Ireland) 2008. An examination includes 3 review of the accounting records kept bythe Church and a comparison of the financial statement5 presented with those records. It also includes consideration of any unusual items or disclosure5 in the financial statements, and seeking explanations from the trustees concerning any such matters. The procedures do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the financial statements. INDEPENDENT EXAMINER'S STATEMENT In the course of my examination, no matter has come to my attention: {11 which gives me reasonable cause to believe that in any material respect the requirements: to keep proper accounting records in accordance with Section 63 of the charities Act {Northern Ireland) 2008, and to prepare financial statements which accord with the accounting records in accordance with Section 64 of the Charities Act (Northern Ireland) 2008 have not been met; or
GREENGABLES PRESCHOOL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GREENGA8LES PRESCHOOL YEAR ENDED 31 AUGUST 23 (21 to which. in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. S Hopper FCA Partner Hopper & Co
GREENGABLES PRESCHOOL STATEMENT OF FINANCIAL AcfiviTY (INCLUDING INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 March 2023 Note Unrestrirted Funds Restricted Funds Total 2023 Total 2022 Income from: Donations and legacies Cha rita ble Activities Investment Income 59,527 24,487 59,527 24,487 62,510 22,232 Total Income 84,014 84,014 84,747 Expenditure on: Charitable activities 93,932 93,932 88,093 Total Expenditure 93,932 93,932 88,093 Net Income (9,9181 19,9181 13,3461 Net movement in funds Funds brought forward 19,918) 16,075 (9,9181 16,075 13.3461 19,421 Funds carried forward 12 6,157 6.157 16.075 All income and expenditure derive from continuing activities. The statement of financial activities includ n) 311 gai n s and losses recognised during the year.
GREENGABLES PRESCHOOL BALANCE SHEET A5 at 31 March 2023 Note 2023 2022 Fixed Assets Tangible Fixed Assets Total fixed a55ets io 460 460 460 460 Current Assets Cash and cash equivalents Total current assets 7.377 7,377 17.294 17,294 Creditors: amounts falling due within one year Total Creditors li 1.680 1,680 1,680 1.680 Net Current Assets 5,697 15,614 Total Net Assets 6,157 16.074 Fund5 ofthe charity Unrestricted funds General funds Total charity funds 12 6.157 6,157 16.075 16,075 These financial statements kvere approved bythe board of trustees and authorised for issue on and are signed on behalf of the board by.. Nico13 Lowry Trustee The notes on pa8ey 9 to 19 form part of these financial statements.
GREENGABLES PRESCHOOL NOTES TO THE ACCOUNTS for the year ended 31 March 2023 I. ACCOUNTING POLICIES General information The charity constitutes a public benefit entity as defined by FRS 102. The Zddress of the principal office is Central Primary School. Thomas Street, Carrickfergus. BT38 8AL. Statement of compliance The financial statements have been prepared in accordance ivith the accounting policies set out in notes tothe financi31 statements and applicable accounting Standards, Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparingtheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS102 Section IA), the charity's governing document, the Charities Act (Northern Ireland) 2008, Charities Act (Northern Ireland) 2013 The Charities (Accounts and Report51 Regulations (Northern Ire13ndl 2015, and UK Generally Accepted Practice. The financi31 statements are prepared on a going concern basis under the historical c05t convention. The financial statements are prepared in sterling which is the functional currency of the charit¥ rounded to the nearest £1. The sign ificant accounting policies applied in the preparation of these financial statements a re set out below. The trustee5 consider that these policies 3re sultable, have been consistently applied and are supported by reasonable and prudentjudgements and estimates. FUND ACCOUNTING The charity has various types of funds iof kwhich it is responsible, and which require separate disclosure. A definition of the various types of funds 15 35 follovJs-. Restricted funds comprise {al income from endowments which is to be expended only on the restricted purposes intended bythe donor and Ibl revenue donations or grants for a specific charitable activity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis.
GREENGABLES PRESCHOOL NOTES TO THE ACCOUNTS Icont'd} 31 March 2023 Unrestricted funds are funds which are expendable at the discretion of the Charity in furtherance of its objectives. In addition to expenditure on activitie5 such funds may be held in orderto finance capital investment and working capital. Designated funds are general funds set aside by the trustees for use in the future. INCOMING RESOURCES All incoming resources are included in the Statement of Financial Activities {SoFAI when the charity is leg311y entitled to the income after 6ny performance condiLions have been met, the amount can be measured reSi3bly, and it Is probable that the income Nvill be received. For donations to be recognised the charity will have been notified ofthe amounts and the settlement date in ¥'iritin If there are conditions attached to the donation and thi5 requires a level of performance before entitlenent can be obtained. then income is deferred unti5 those conditioiis are fully met or the fulfilment of those conditions is within the control of the charity, ar,d it is probable tlia, they will be fulfilled. Voluntary income received by way of donations and gift is credited to revenue on 3 receivable b3SIS. The charity receive5 grants in respect of support services. Income from governnient and other grants are recognised at fair value Kvhen the charity h35 entitleMet after any perform3nce conditions have been met, it is probable that the income ivill be received, and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred. Reenue grants are credited to incoming resources on the earlier date of ivhen they are recèived or bvhen they are receivable unless they relate to a specified future period. Other income represents income that cannot be reported under the other analysis heading5 provided withir, the SOFA. Incoming resources with related expenditure Where incoming resources have related expenditure las with insurance proceeds) the incoming resources and related expenditure are reported gr055 in the SOFA. 10 I
GREENGABLES PRESCHOOL NOTES TO THE ACCOUNTS Iconyd) 31 March 2023 Grants and donatlons Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources. Tax reclaims on donations and gifts Incoming resources from tax reclaims are included in the SOFA at the same time 3S the gift to which they relate. {iv) Contractual income and performance related grants Thi5 is only included in the SOFA once the related goods or service5 have been delivered. (v) Gifts in kind Gifts in kind are accounted for at a reason3ble estimate of their value to the charity or the amount actually reali5ed. Gift5 in kind for sale or distribution are included in the accounts as gifts only when sold or distributed bythe charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable. (vi) Donated services and facilities These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable. measurable and material. The value place on these resources is the estimated value to the charity of the service or facility received. (vii) Investment income This is included in the accou nts in the period to which it relate5. {viii) Investment gains and losses This includes any gain or loss on the sale of investments and any gain or1055 resulting from revaluing investments to market value at the end of the year. EXPENDITURE AND LIABILITIES All expenditure is accounted for on an accrua15 basis and has been classified uiider headings that aggregate all costs related to the category. It is categorised under the following headings: Expendilure on charitable aciivities ftomprises those costs incLfrred by the charity in the delivery cf it5 activities and services for its beneficiaries and includes salary costs, support service expenses. and an apportionment of support costs: Other expenditure represents those items not falling into the categories above.
GREENGABLES PRESCHOOL NOTES TO THE ACCOUNTS Icont'd) 31 March 2023 Liability recognition Liabilities are recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. Governance costs These are Shown within charitable activities and include the costs of preparation and examination of 3ccounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or Constitutional matters. Grants with performance conditions Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output. (iv) Grants payable without performance conditions These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity. {vl Support costs Support costs are those that assist the work of the charity but do not di rectly represent charitable activities and include office costs, governance costs a nd administrative payroll cost5. They are incurred directly in support of expenditure on the objects of the charity. Where support Costs Cannot be directly attributed to particular headings, they have been allocated to cost of raising funds and expenditure on charitable activitie5 on a basis consistent with use of the resources. Premises overheads have been allocated on a basis consistent with the Lise of the resources. Staff costs and other overheads h3ve been allocated based on time spent, per capita and activity. Employee benefit5 When employees have rendered service to the charity, 5holt-term einployee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that serb'ice. Value Added Tax The charity is not registered for VAT purpose5, therefore expenditure is s4own gross of VAT. 12 |
GREENGABLES PRESCHOOL NOTES TO THE ACCOUNTS Icont'd} 31 March 2023 A55ETS Tangible Fixed Assets The cost of tangib le fixed assets is their purchase cost, togeth er with anii incidental costs of acquisition. Depreciation is calculated so as to write off the cost of tangible fixed assets, less their estimated residual values, on 3 Straight-line basis over the expected usefu l econoftiic lives of the assets concerned. The principal annual rates used are 35 follows: Equipment IOOA Reducing balcince In accordance with FRS102, assets under construction are not depreciated until such times as they are available for use. Where the recoverable amount of a fixed asset is found to be below its net book value, the asset Is written down 10 the recoverable figure and the loss on impairment is recognised in the SOFA. Investment5 Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees, best estimate of market value. Leases Rentals payable under operating leases are charaed to the SOFA on a straight_line basis over the period of the lease. Tax The cliarity benefits from various exeniptions arforded by tax legislation. It is therefore not liable to corporation tax on income or gains falling due ivithin those exemptions. Recovery is made of tax deducted from receipts under gift aid. Going concern Tlie financial statements have been prepared on a going coiicern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of ' lunds held and the expected level of income and expenditure foi- 12 months froin authori5ing these financial statements. The budgeted income and expenditure is sufficient with the level of reserve5 for the charity to be able to continue as a going concern. Judgements and key sources of estimation uncertainty The follobvingjudgements including those involving estimates have been made in the process of applying he above accounting policies that have had the most significant effect on the amounts recognised in the financial ttatements and that have a significaiit risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.. 131
GREENGABLES PRESCHOOL NOTES TO THE ACCOUNTS Icont'd) 31 August 2023 depreciation method and asset tjseful lives The estimates and 3SSLtmptions are reviekved oli an ongoing basis considering the current and future market conditions. 2. DONATIONS AND LEGACIES Unrestricted Funds Restricted Funds Total 2023 Total 2022 Donations EA Funding 59,527 59,527 62,510 59,527 59,527 62,510 3. CHARITABLE AcfiviTIES Unrestricted Funds Restricted Funds Total 2023 Total 2022 Playgroup Fee5 Fundraising Sale of sweatshirt/uniforms 21,675 2,267 545 21,675 2,267 545 21,119 325 788 24,487 24,487 22.232
GREENGABLES PRESCHOOL NOTES TO THE ACCOUNTS Icont'd) 31 August 2023 4. INVESTMENT INCOME Unrestricted Fund5 Restricted Funds Total 2023 Total 2022 Bank Interest Receivable 5. EXPENDITURE ON CHARITABLE ACTIVITIES BY AcfiiviTY TYPE Unrestrirted Funds Restricted Funds Total 2023 Total 2022 M3in Activity Governance costs 92,660 1,272 92,660 1,272 86,393 1,700 93,932 93,932 88,093 15 |
GREENGABLE PRESCHOOL NOTES TO THE ACCOUNTS Icont'd) 31 March 2023 13. ANALYSIS OF NEf Asstrs BETWEEN FUNDS Unrestricted Funds Restricted Funds Total 2023 Fixed Assets Net Current Assets 460 5,697 460 5,697 6,157 6,157 Unrestricted Funds Restricted Funds Total 2022 Fixed Assets Net Current Assets 460 15,614 460 15.614 16,074 16,074 14. FINANCIAL COMMITMENT No contracts had been placed for future capital expenditure at the balance sheet date 15. ETHICAL STANDARDS In common with many other organisations of our size and nature, we use our independent examiner to prepare and assist in the preparation of the financial statements. Additionally, they manage our payroll. 16. RELATED PARTIE5 There were no related party transaction5 during the year12022.. £Nill. 191
GREENGABLES PRESCHOOL NOTES TO THE ACCOUNTS Icont'd) 31 August 2023 6. ANALYSIS OF SUPPORT COSTS Unrestricted Funds Restricted Funds Total 2023 Total 2022 Purchases Wages/salaries Rent Running Costs Repairs & Maintenance Insurance Bank Charges Administration Cost5 Gifts and Donations 7,878 76,853 3,400 2,930 7,878 76.853 3,400 2,930 9,659 69,763 3,400 2,022 150 448 79 607 265 538 iii 950 538 iii 950 92,660 92,660 86,393 7. INDEPENDENT EXAMINATION FEES Total 2023 Total 2022 Fees payable to independent examiner for- Independent examination of the financial statements 840 840 8. TRUSTEES REMUNERATION AND EXPENSES The average head count of employee during the year was 7 {2022: 71 No employee received employee benefits of more than £60.000 during the ye3r12022: Nil) 9. TRUSTEES REMUNERATION AND EXPENSES The Trustees received no remuneration from the charity during the current or preceding financial years.
GREENGABLE PRESCHOOL NOTES TO TFIE ACCOUNTS (cont'd) 31 March 2023 10. TANGIBLE FIXED AssErs Fixtures & Fittings Cost At beginning of the year Additions Disposals At end of the year 460 460 Depreciation At beginning of the year Depreciation Disposals At end of the year Net book value at beginning of the year Net book value at end of the year 460 460 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Total 2023 Total 2022 Accruals & Deferred income 1,680 1,680 171
GREENGABLES PRESCHOOL NOTES TO THE ACCOUNTS {cont'd} 31 August 2023 12. FUND BALANCES Funds 2023 Balance at start Income Expenditu Surplus / Transfer re (Deflcitl Balance at end Unrestrirted Funds General fund 16,075 84,014 193,932) 19,918} 6,157 Total 16,075 84.014 (93,9321 {9,9181 6,157 Funds 2022 Balance at start Income Expenditu Surplus / Transfer re (Deficit) Balance at end Unrestritted Funds General fund 19,421 84,747 188,093) 13,3461 16,075 Total 19.421 84.747 (88,0931 13,3461 16,075 181