•oW eo PAOTrA Trustees, Report and Unaudited Financlal Statements for the year ended 31 July 2023 CCNI Charity Registration number: NIC107105
Ralnbow Corner Pre-Sth00l and Playgroup Contents For the year ended 31 July 2023 Page Trustees, Annual Report Statement of trustees, responsibilities Independent Examiner's Report Statement of Financial Activitle5 Balance Sheet Notes to the financial statements 10-15
Ralnbow Corner Pre-school and Playgroup Trustees, Annual Report For the year ended 31 Jufy 2023 The trustees present their port and financial statements for the year ending 31 July 2023. Other Names The charity is at times referred to as vaTiOUS Other names relevent to its registered charty name: - Rainbow Corner Pre-school & Playgroup Moira - Rainbow Corner Moira - Rainbow Corner Pr&School - Rainbow Corner Playgroup - the acronym RCPP Reference and Admlnlstratlve Detslls Rainbow Corner Pre-school and Playgroup 2 Maln Street Moira Craigavon BT67 OLE Registered Charity in Northem Ireland - NIC107105 Charlty Trustees The charity trustees who served during the year or who were trustees at the date of thts pOrt were: Nlcola Stevenson Natalie Beggs Samantha Martin Caroline Henderson Owen Gawith Rachael Stoddart Danlela Mediondo de Lima Alison McLorn Alison Watson Emma McGreevy Chairperson Secretary TreaSur {appointed 25 September 2023) (appointed 25 September 2023) (appointed 25 September 2023) {appointed 25 September 2023) (resigned 11 August 20231 (resigned 15 August 20231 (resigned 10 September 20231 Structure, Governan and Management Those charged with governance of the charity are the trustees also known as the Commlttee, as elected annually by the staff and family members of pupils, are charged with the management of the charity. The charity staff organise the day to day running of the pre-school and playgroup. The charity's governin8 document is the Constitution. To be elected as a trustee of the charty a person must be a member. The committee is rtrelected each year at the AGM. Nominations for electlons to the committee may be made by any family member of the students and seconded by another. Well-wishers of the charity who. in the opinion of the committee, have special knowledge or experience to offer to the charity, may also be nominated for election to the commitee. Members of staff cannot be committee members. The committee must hold at least two meetings every term.
Rainbow Corner Pre-school and Playgroup Trustees, Annual Report For the year ended 31 July 2023 Purpose The trustees seek to promote play based learning environments and advance education for all children aged between 2 years and 10 months to 4 years in the Moira locality and its surrounding areas within County Armagh / Down without distinction of age, gender. marital status. disability, sexual orientation, nationality, ethnic identity, political or religious opinion, by associating the ststutory authortties, communty and voluntary organisations and the inhabitants in a common effort to advance education, and in particular This is achieved by the provislon of safe and satisfying group play, with the right of pants/carers to take responsibility for and to become involved in the activities of the pre-school and playgroup and to promote the preservation of health of the children. The charity $upirts the values and principles of EaTly Years. The property and funds of the charty must onty be used to fulfill the purposes. Objectives and Activitles Rainbow Corner Pre-school and Playgroup will dellver the benefrts detsiled in our Public Benefit statement through a curriculum that will be planned to ensure that the children learn and develop within the six areas of the curriculum. the arts; language development; earty mathematical experiences. personal, social and emotional development, physical development and movement and the world around us. Obser4ations and assessrnents of each child's development will take place, relevant planning will be carried out to ensure the provision is sufficient to further advance this evidential learnlng. Through a continuous process of evaluation the trustees will carry out plans necessary for improvement of the children's educational provision. This process will include regular staff meetings, ongoing training, support from local primary schools and the Early Years Organisation. We also seek feedback from parental intervlews and questionnalres, inspectlons carried out, recommendations and support given by Social Services and the Education and Training Inspectorate. Achlevements During the year the pre-school received grants from the Educatlon Authority which were primarily used to pay the wages and salaries of the charity. rent, running costs, etc. The stsff also organised the annual sponsored cycle to raise funds for the charity and collected termty contributions from parents. These funds were used for the daily snacks forthe children and to purchase equipment and resources for the pre-school. The stsff and committee also ofganised other fundraising actNtties throughout the year for the pre-school and playgroup children and their families. These included rdffles and the summer fair. We are very grateful to the Rainbow Corner families for their continued support.
Rainbow Comer Pre-school and Playgroup Trustses. Annual Report For the year ended 31 Juty 2023 Flnanclal Revlew The total income for the charity for the year was £69,703. The charity's main source of income each year is from the Education Ahority which was £50.424 in respect of PEGS funding. The remaining Engage funding amounting to £2,912 was also received in the year (some wa5 received in the 2021122 academic year and remained unspent) and was spent on outdoor play refurbishments. Playgroup fees vary each year and this year amounted to £9,246 - a small amount of this Income which remain5 unpaid to date was written off. The weekky contributions amounted to £2,310 and our annual sponsored cycle and other fundraising activities achieved a total of £2.225. We are very grateful for the continued support of the family and friends of the children at Rainbow Corner Pre-school and Playgroup as these funds are essential in providing the children with new equipment regularly and different learning experiences. The expenses for the year amounted to £71.451. The main costs of the charity are stsff salaries and rent which together make up 76% of the annual costs. The majority of this portion of costs is covered by our Education Authority PEGS funding. We had the opportunity this year to invest in our outdoor space through the provision of additional funding from the Education Authority- this relates to about £7k of our resources, equipment and activities costs. The remaining running costs and governance costs a kept to a minimum to facilitate Investlng all available funds into the pre-school and playgroup for the sole benefrt of the children using the facility. Reserves The trustees assess the level of reserves on a contlnual basls to ensure that they a able to meet any commitments that could easitry arise. Publlc benefft statement The public benefrt requirement Is defined in the Charities Act (Northern Ireland) 2008 and states that purposes must be for the public benefrt to be charitable. The trustees confimi that they have complied with the duty to have regard to the guidance issued by the Charity Commission for Northern Ireland under section 41bl of the Charwties Act (the public benefit requirement statutory guidan¢e}. The trustees are confident that the activities have helped to achieve the chariWs purposes and provide a benefrt to the beneficiaries.
Ralnbow Corner Pre-sthool and Haygroup Trustees, Annual Report For the year ended 31 Juty 2023 The trustees present their financial statements for the charity for the year ended 31 Juty 2023. The financial statements have been prepared in accordance with the accounttng policies set out in note I to the accounts and comply with the Charities Act (Northern Ireland) 2(K)8, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and Accounting and Reporting by Charities: SLitement of Recommended Practice applicable to charities {Charities SORP (FRS 102)) preparing their financial ststements. Trustees, responslbllltles In relatlon to the financlal ststements The charity trustees (who are known as the members of committee) a responsible for preparing a trustees, annual report and financial ststements in accordance with applicable law and United Kingdom Accounting Standards (United Klngdom Generalfy Accepted Accounting Practice). The law applicable to charltles In Northern Ireland requires the chartty trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to." • select 5ultable accounting policies and then appty them consistently. • observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent; ' state whether applicable UK accounting standards have been followed. subject to any material departu disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is Inappropriate to pressume that the charity will contlnue In business. The trustees are responslble for keeping proper accounting record5 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 Charities Act (Northern Iland) 2008 and The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. They are also responsible for safeguarding the assets of the charty and taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charivs website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by the trustees on 15 April 2024 and sned on their behalf by: Mrs N. Stevenson Chairperson Mrs S. Martin Treasurer
Independent examiner's report to the board of trustees of Rainbow Corner Pre School and Playgroup I report on the accounts of the charity for the year ended 31 July 2023, which are set out on pages 8 10 15. Respective responsibilities of charity trustees and examiner As the charity's trustees you are responsible for preparation of the accoiints In accordance with the Chanties Act (Northem Ireland) 2008. It IS my responsibility to: Examine the accounts under secbon 65 of the Chantses Act Follow the proureS laid down In the generdl Direcbons given by the Commission under section 65{9)(b) ol the Charibes Act State whether parts'cular matters have come to my attention. Basls of Independent examlner's report I nave exaniinpd your chanty accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with general Direciions given by the Charity Commission for Northem Iland under section 65{9)(b) of the Charities Act. My examinats'on Included a review of he accounling ordS kept by the charity and a companson of the accounts presented with those cOrdS. It also included consideration of any unusual items or d1scl05uS in the accounts and seeking explanab.ons from you as charity trustees Gonceming any such matters. My role Is to stste whether any material matter5 have come to my attention glving me cause to believe: 1. That accounb'ng records were not kept in accordance with sectson 63 of the Chanties Act 2. That the accounts do not accord with Ihose accounbng records 3. That the accounts do not comply with the accounung requirements of the Chantses Act 4. That the is further Infonnatson needed for a proper understsnding of the accounts to be reached. Independent examlner's statement I have completed my examinaban and have no concems In respect of Ihe matters (1) to (4> listed abnvp. and, In connecbon Wilh following Ihe Direcbons of the Charity Commission for Northem Ireland, I have found no matters that require drawing to your attention. Aidan Malone (FCA) Malone Accounting Lld 12 Causeway Road. Newcastle, Co. Down, BT35 6JD Date: 15 April 2024
Rainbow Corner Pre-school and Playgroup ststement of Financial Activitses induding Income and Expenditure Account For the year ended 31 July 2023 Note5 Unrestrlcted Restrlcted fiinds funds Total 2023 Income and endowments from: Donations and legacies Charitable activities Other trading attivites Investment income Other income 3,038 65.067 1.514 3,038 65,067 1,514 84 Totsl Incorne 69,703 69,703 Expenditure on.. Raising funds 659 659 Charitsble activities: FUndraIng costs Staff costs Resources, equipment & activities Running costs 655 44,347 11,994 13,038 655 44,347 11,994 13,038 Governance costs 758 758 T¢)tal expendlture 71A51 71.451 Net defldt (1,748) 11,748) Transfers between funds Net movement In funds (1.748) 11,748) Reconclllatlon of funds: Total funds brought forward 14 19,604 19,604 Totsl funds carrled forward 14 17.856 I756 The statement of financial activities includes all gains and losses COgniSed in the year. All income and expenditure derive from continuing artivities.
Rainbow Corner Pre-sthool and Playgroup Balance Sheet For the year ended 31 Juty 2023 2023 Flxed assets Tangible assets Total flxed assets Current assets Debtors Cash at bank and in hand 2,601 20,647 Total current assets 23,248 Llabllltles Creditors: Amounts falllng due within one year li 5,392 Net current assets 17,856 Total net assets 17.856 The funds of the Charlty: Unrestricted income funds Restricted income funds 15 17,856 Total charlty funds 17056 The trustees have prepad the financial ststements In accordance with The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 for circulation to the members. The notes I to 16 form part of these financial statements. Approved by the trustees on 15 April 2024 and signed on their behalf by: Mrs S. Martin Treasurer
Rainbow Corner Pre-sthool and Playgroup Notes to the Flnancial Statsments For the year ended 31 July 2023 Accounting pollcles The principal accounting policies that have been adopted consistentty throughout the year and the prior year are summarised below. 1.1 Basls of preparatlon 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 1021 {Charities SORP IFRS 102)), the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 102) and The Charitie5 {Accounts and Reports) Regulations (Northern Ireland) 2015. The financial statements have been prepared under the historical cost convention except for Investment assets, whlch are shown at market value. The financial statements include all transactions. assets and liabilities for which the Charity is responsible in law. Rainbow Corner Pre-school and Playgroup meets the definition of a public benefft entity under FRS 102. 1.2 Fund accountlng Unrestrlrted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds are primarily from the receipt of donatlons and charitable activities. Restricted income funds are funds which are to be used in accordan with specifK restrictions imposed by the donor. There We no $tricted funds In the year. 1.3 Income Tecognltlon All income is recognised once the charity has entitlement to the Income, it is virtually certain that the income will be received and the amount of Income receNable can be measured rellably. Where income received has related expenditure las with fundraising income) the income and related eXpendItu are reported gross in the Statement of Financial Activities. Donation and legacles Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions qUITe deferral of the amount. Tax re¢lalms on donatlons and gffts Income from Grft Aid is not recognised in this financial year as the Charity registration for Gift Aid was effectNe from September 2023. Charltable activities Grants received for general purposes for the furtherance of the charity's objectives are recorded as income from charitable attivities and regarded as unrestricted. Other income from charitable activities relates to playgroup fees, insurance contributions and unrform sales. This income is recognised by the charity when the invoice is raised. io
Rainbow Corner Pre-school and Playgroup Notes to the Financial Statements For the year ended 31 July 2023 Accounttng policies Icontinued} 1.3 Income recognition Icontinued} Other trading activities Income from other trading activities is recognised when re1vable and the amount can be measured reliably by the chBrity. Investments Interest on funds held on deposit is recognised when receivable and the amount can be measured reliably by the charity. Donated servlces and facllltles These are only included in income (with the equivalent amount in expenditure) Whe the benefft to the charFty is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. Volunteer help The value of any voluntsry help te1Ved is not included in the financial statements but is described in the trustees, annual report. 1.4 Expenditure and Ilabllttles reco8nltlon Liabilities are recognised as expenditure as soon as there Is a legal or constructive obllgatlon committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditu is accounted for on an accruals basis. 1.5 Irrecoverable VAT Irrecoverable VAT is Charged agalnst the expendfture heading for which it was incurred. 1.6 Credltors and provlslons Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably SuIt in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliabty. Creditors and provisions are normally reco8nised at their settlement amount. 1.7 Employee benefits The chartty operates a defined contribution pension scheme for its employees. The scheme and its assets are held by an independent scheme manager. The pension charge represents the contributions due by the charity during the year. The charity recognises a cost equal to its contribution payable for the period in the ststement of financial actwities. li
Ralnbow Corner Pre-school and Haygroup Notes to the Financial Statements For the year ended 31 Juty 2023 Donatlon5 and legacles Unrestrkted Restricted 2023 Donations Snack contributions Sponsored activity 17 2310 711 17 2310 711 3,038 3.038 Income from charltable artlvltles Unrestrlcted Restrlcted 2023 Educatlon Authority PEGS funding Education Authority Engage funding Playgroup fee income Insurance contributions Uniform sales 50,424 2,912 9,246 1,2 1.285 50.424 2.912 9,246 1,200 1,285 65,067 65,067 Inwme from other trading actlvttles Unrestrlcted Restrkted 2023 Raffle5 Summer Falr Commission 632 773 109 632 773 1,514 1,514 Expendlture on ralsin8 funds Unrestrlcted Restrfctsd 2023 Fundraislng and events Payment processing fees 658 658 659 659 12
Rainbow Corner Pre-sthool and Playgroup Notes to the Financial Statements For the year ended 31 July 2023 Fundralslng costs Unrestrlcted Restricted 2023 Donations expenses Advertlsing 175 175 655 655 Resources* equlpment and activltles Unrestrkted Restrfcted 2023 Snack provtsions Children's unlform costs Resources & equlpment Furntture Trips & actrvities costs Education Authority grant expenses 1,080 1.376 1,489 333 421 7,295 1.080 1376 L489 333 421 7.295 11.994 11,994 Runnlng costs Unrestrlcted Restrlrted 2023 Rent Office equipment and costs Telephone and internet costs Website and computer costs Insurance Bad debt written off General expenses 9,385 382 546 487 405 1,712 121 405 1,712 121 13,038 13.038 Governance costs 2023 Independent Examiner's fees Training Other professional fees Bank interest and Charges 180 206 35 337 206 35 337 758 758 13
Rainbow Corner Pre-school and Playgroup Notes to the Flnanaal Statements For the year ended 31 July 2023 10 Debtors 2023 Trade debtors Ppayments Other debtors 1,279 451 871 2,601 11 Credltors: amounts falllng due wlthln one year 2023 Trade credttors Accruals and deferred income Taxation and social security Other credltors 450 2,475 5,392 12 Staff costs and employee beneffts 2023 Gross salarles and wages Soclal security costs Staff penslon costs 44,056 291 44.347 There were no employees who ceiVed total employee beneffts in excess of £60,In). The key management personnel of the charity comprlse the trustees and the P-School and Playgroup Leader. The totsl ernployee benefts of the key management personnel of the charity We £17,648. 13 Trustees. expenses and remuneratlon There were no trustees who received expenses during the year. There was one trustee who received remuneration during the year. Alison Watson received gross remuneration amounting to £1,704 for her temporary role as a playgroup assistant on a self-employed basis with the charity which was separate from her duties as a trustee. This role was filled by Mrs Watson due to an uent need following the reintroduction of the playgroup sessions at the setting. This remuneration was based on the hourly rate for playgroup a$5i5tants as detemiined and permitted by the committee. 14
Rainlx>w Corner Pre-Sch¢)ol and Hay8roup Notes to the Financlal Statements For the year ended 31 July 2023 14 Related party transactlons Please refer to note 13 for transactions with tmstees during the year. There were no other related party transactions. 15 Analysls of movement in tharitable funds Balance at 01/0812022 Balance at Expenditure 3110712023 Income Unrestrirted Income funds Restricted income funds 19,604 69,703 {71,451) 17,856 19,604 69,703 171,451) 17,856 Details of each fund can be found at note 1.3. This is the first financial year that the charity has a regulatory requirement to prepare financial statements for submission to The Charities Commission for Northern Ireland. The charity therefore has opening unrestricted funds as recorded in its accounting records. 16 Anatysls of net assets between funds Unrestrlcted Restrlcted funds funds Total Tanglble flxed assets Cash at bank and in hand Other net current assets/lliabilities1 Creditor5 of more than one year 20,647 (2,791) 20,647 12,7911 17,856 17,856 15