## **Rainbow Corner Pre-School and Playgroup Statement of Financial Activities including Income and Expenditure Account For the year ended 31 July 2024** |**Notes**
**Income and endowments from:**
Donations and legacies
**2**
Charitable activities
**3**
Other trading activites
**4**
Investment income
Other income
**Total income**
**Expenditure on:**
Raising funds
**5**
Charitable activities:
Fundraising costs
**6**
Staff costs
**12**
Resources, equipment & activities
**7**
Running costs
**8**
Governance costs
**9**
**Total expenditure**
**Net deficit**
Transfers between funds
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**15**
**Total funds carried forward**
**15**|**Unrestricted**
**Restricted**
**Total**
**Total**
**funds**
**funds**
**2024**
**2023**
**£**
**£**
**£**
**£**
4,073
-
4,073
3,038
55,998
1,421
57,419
65,067
2,534
-
2,534
1,514
175
-
175
84
-
-
-
-| |---|---| ||**62,780**
**1,421**
**64,201**
**69,703**| ||458
-
458
659
323
-
323
655
53,972
-
53,972
44,347
3,787
1,421
5,208
11,994
12,488
-
12,488
13,038
988
-
988
758| ||**72,016**
**1,421**
**73,437**
**71,451**| ||**(9,236)**
**-**
**(9,236)**
**(1,748)**
-
-
-
-| ||**(9,236)**
**-**
**(9,236)**
**(1,748)**
17,856
-
17,856
19,604| ||**8,620**
**-**
**8,620**
**17,856**| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 8 ## **Rainbow Corner Pre-School and Playgroup Balance Sheet For the year ended 31 July 2024** |**Notes**
**Fixed assets**
Tangible assets
**Total fixed assets**
**Current assets**
Debtors
**10**
Cash at bank and in hand
**Total current assets**
**Liabilities**
Creditors: Amounts falling due
**11**
within one year
**Net current assets**
**Total net assets**
**The funds of the Charity:**
Unrestricted income funds
**15**
Restricted income funds
**15**
**Total charity funds**|**2024**
**£**
-
-
575
9,602
10,177
1,557
8,620
**8,620**
8,620
-
**8,620**|**2023**
**£**
-| |---|---|---| |||-| |||2,601
20,647| |||23,248| |||5,392| |||17,856| |||| |||**17,856**| |||17,856
-| |||**17,856**| The trustees have prepared the financial statements in accordance with The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 for circulation to the members. The notes 1 to 16 form part of these financial statements. Approved by the trustees on 10 September 2024 and signed on their behalf by: Mrs S. Martin Treasurer 9 **Rainbow Corner Pre-School and Playgroup Notes to the Financial Statements For the year ended 31 July 2024** ## **1 Accounting policies** The principal accounting policies that have been adopted consistently throughout the year and the prior year are summarised below. ## **1.1 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. The financial statements have been prepared under the historical cost convention except for investment assets, which 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 benefit entity under FRS 102. ## **1.2 Fund accounting** Unrestricted 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 donations and charitable activities. Restricted income funds are funds which are to be used in accordance with specific restrictions imposed by the donor. There were no restricted funds in the year. ## **1.3 Income recognition** 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 receivable can be measured reliably. Where income received has related expenditure (as with fundraising income) the income and related expenditure are reported gross in the Statement of Financial Activities. ## **Donation and legacies** 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. ## **Tax reclaims on donations and gifts** Income from Gift Aid is not recognised in this financial year as the Charity registration for Gift Aid was effective from September 2023. ## **Charitable activities** Grants received for general purposes for the furtherance of the charity's objectives are recorded as income from charitable activities and regarded as unrestricted. Other income from charitable activities relates to playgroup fees, insurance contributions and uniform sales. This income is recognised by the charity when the invoice is raised. 10 **Rainbow Corner Pre-School and Playgroup Notes to the Financial Statements For the year ended 31 July 2024** ## **1 Accounting policies (continued)** ## **1.3 Income recognition (continued)** ## **Other trading activities** Income from other trading activities is recognised when receivable and the amount can be measured reliably by the charity. ## **Investments** Interest on funds held on deposit is recognised when receivable and the amount can be measured reliably by the charity. ## **Donated services and facilities** These are only included in income (with the equivalent amount in expenditure) where the benefit to the charity 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 voluntary help received is not included in the financial statements but is described in the trustees' annual report. ## **1.4 Expenditure and liabilities recognition** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation 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 expenditure is accounted for on an accruals basis. ## **1.5 Irrecoverable VAT** Irrecoverable VAT is charged against the expenditure heading for which it was incurred. ## **1.6 Creditors and provisions** 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. ## **1.7 Employee benefits** The charity 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 statement of financial activities. 11 **Rainbow Corner Pre-School and Playgroup Notes to the Financial Statements For the year ended 31 July 2024** ## **2 Donations and legacies** |**Donations and legacies**|| |---|---| |Donations
Snack contributions
Sponsored activity|**Unrestricted**
**Restricted**
**2024**
**2023**
**£**
**£**
**£**
**£**
227
-
**227**
17
2,865
-
**2,865**
2,310
981
-
**981**
711| ||4,073
-
**4,073**
3,038| Donations and legacies income for 2023 was fully unrestricted. ## **3 Income from charitable activities** |**Income from charitable activities**|| |---|---| |Education Authority PEGS funding
Education Authority Engage funding
Childcare Partnership Regional SGS Grant
Playgroup fee income
Insurance contributions
Uniform sales|**Unrestricted**
**Restricted**
**2024**
**2023**
**£**
**£**
**£**
**£**
50,955
-
**50,955**
50,424
-
-
**-**
2,912
-
1,421
**1,421**
-
3,526
-
**3,526**
9,246
945
-
**945**
1,200
572
-
**572**
1,285| ||55,998
1,421
**57,419**
65,067| Income from charitable activities for 2023 was fully unrestricted. ## **4 Income from other trading activities** |General fundraising
Raffles
Christmas Party
Summer Fair
Commission|**Unrestricted**
**Restricted**
**2024**
**2023**
**£**
**£**
**£**
**£**
710
-
**710**
-
336
-
**336**
632
59
-
**59**
-
1,389
-
**1,389**
773
40
-
**40**
109| |---|---| ||2,534
-
**2,534**
1,514| Income from other trading activities for 2023 was fully unrestricted. 12 **Rainbow Corner Pre-School and Playgroup Notes to the Financial Statements For the year ended 31 July 2024** |**5**
**Expenditure on raising funds**
Fundraising and events
Payment processing fees|**Unrestricted**
**Restricted**
**2024**
**2023**
**£**
**£**
**£**
**£**
427
-
**427**
658
31
-
**31**
1| |---|---| ||458
-
**458**
659| Expenditure on raising funds for 2023 was fully unrestricted. ## **6 Fundraising costs** |**Fundraising costs**|| |---|---| |Donations expenses
Advertising|**Unrestricted**
**Restricted**
**2024**
**2023**
**£**
**£**
**£**
**£**
67
-
**67**
175
256
-
**256**
480| ||323
-
**323**
655| Fundraising costs for 2023 was fully unrestricted. ## **7 Resources, equipment and activities** |Snack provisions
Children's uniform costs
Resources & equipment
Furniture
Trips & activities costs
Education Authority grant expenses
Childcare Partnership grant expenses|**Unrestricted**
**Restricted**
**2024**
**2023**
**£**
**£**
**£**
**£**
1,096
-
**1,096**
1,080
-
-
**-**
1,376
830
-
**830**
1,489
719
-
**719**
333
1,142
-
**1,142**
421
-
-
**-**
7,295
-
1,421
**1,421**
-| |---|---| ||3,787
1,421
**5,208**
11,994| Resources, equipment and activities costs for 2023 was fully unrestricted. 13 **Rainbow Corner Pre-School and Playgroup Notes to the Financial Statements For the year ended 31 July 2024** ## **8 Running costs** |**Running costs**|| |---|---| |Rent
Office equipment and costs
Telephone and internet costs
Website and computer costs
Insurance
Staff uniform
Bad debt written off
General expenses
Running costs for 2023 was fully unrestricted.|**Unrestricted**
**Restricted**
**2024**
**2023**
**£**
**£**
**£**
**£**
9,815
-
**9,815**
9,385
990
-
**990**
382
287
-
**287**
546
213
-
**213**
487
608
-
**608**
405
289
-
**289**
-
226
-
**226**
1,712
60
-
**60**
121| ||12,488
-
**12,488**
13,038| ||| |**9**
**Governance costs**
Independent Examiner's fees
Training
Other professional fees
Other charges
Bank interest and charges|**Unrestricted**
**Restricted**
**2024**
**2023**
**£**
**£**
**£**
**£**
-
-
**-**
180
105
-
**105**
206
178
-
**178**
35
388
-
**388**
-
317
-
**317**
337| |---|---| ||988
-
**988**
758| Governance costs for 2023 was fully unrestricted. ## **10 Debtors** |**Debtors**|| |---|---| |Trade debtors
Prepayments
Other debtors|**2024**
**2023**
**£**
**£**
**280**
1,279
**291**
451
**4**
871| ||**575**
2,601| ## **11 Creditors: amounts falling due within one year** |Trade creditors
Accruals and deferred income
Taxation and social security
Other creditors|**2024**
**2023**
**£**
**£**
**-**
99
**575**
450
**324**
2,368
**658**
2,475| |---|---| ||**1,557**
5,392| 14 **Rainbow Corner Pre-School and Playgroup Notes to the Financial Statements For the year ended 31 July 2024** ## **12 Staff costs and employee benefits** |Gross salaries and wages
Social security costs
Staff pension costs|**2024**
**2023**
**£**
**£**
**53,111**
44,056
-
-
**861**
291| |---|---| ||**53,972**
44,347| There were no employees who received total employee benefits in excess of £60,000. The key management personnel of the charity comprise the trustees and the Pre-School and Playgroup Leader. The total employee benefits of the key management personnel of the charity were £21,359. ## **13 Trustees' expenses and remuneration** There were no trustees who received expenses during the year. There were no trustees who received remuneration during the year. ## **14 Related party transactions** Please refer to note 13 for transactions with trustees during the year. There were no other related party transactions. ## **15 Analysis of movement in charitable funds** |Unrestricted income funds
Restricted income funds|**Balance at**
**Balance at**
**01/08/2023**
**Income**
**Expenditure**
**31/07/2024**
**£**
**£**
**£**
**£**
17,856
62,780
(72,016)
8,620
-
1,421
(1,421)
-| |---|---| ||17,856
64,201
(73,437)
8,620| Details of each fund can be found at note 1.3. 15 **Rainbow Corner Pre-School and Playgroup Notes to the Financial Statements** **For the year ended 31 July 2024** ## **16 Analysis of net assets between funds** |**Analysis of net assets between funds**|| |---|---| |Tangible fixed assets
Cash at bank and in hand
Other net current assets/(liabilities)
Creditors of more than one year|**Unrestricted**
**Restricted**
**funds**
**funds**
**Total**
**£**
**£**
**£**
-
-
-
9,602
-
9,602
(982)
-
(982)
-
-
-| ||8,620
-
8,620| 16