false false true false false false false true false false false false false false true true true No description of principal activity 2017-05-01 Sage Accounts Production Advanced 2018 Update 1 - FRS102Char 25,046 2,457 27,503 8,425 3,173 11,598 15,905 16,621 xbrli:pure xbrli:shares iso4217:GBP 8044201 2017-05-01 2018-04-30 8044201 2018-04-30 8044201 2017-04-30 8044201 2016-05-01 2017-04-30 8044201 2017-04-30 8044201 2016-04-30 8044201 bus:LeadAgentIfApplicable 2017-05-01 2018-04-30 8044201 char:Trustee2 2017-05-01 2018-04-30 8044201 char:Trustee4 2017-05-01 2018-04-30 8044201 char:Trustee5 2017-05-01 2018-04-30 8044201 char:Trustee6 2017-05-01 2018-04-30 8044201 char:Trustee7 2017-05-01 2018-04-30 8044201 char:Trustee9 2017-05-01 2018-04-30 8044201 char:Trustee10 2017-05-01 2018-04-30 8044201 char:Trustee11 2017-05-01 2018-04-30 8044201 bus:CompanySecretary1 2017-05-01 2018-04-30 8044201 char:Trustee11 2018-04-30 8044201 char:TotalUnrestrictedFunds 2017-04-30 8044201 char:TotalRestrictedIncomeFunds 2017-04-30 8044201 char:TotalUnrestrictedFunds 2018-04-30 8044201 char:TotalRestrictedIncomeFunds 2018-04-30 8044201 char:TotalRestrictedIncomeFunds 2017-04-30 8044201 char:TotalUnrestrictedFunds 2017-04-30 8044201 char:TotalUnrestrictedFunds 2017-05-01 2018-04-30 8044201 char:TotalRestrictedIncomeFunds 2017-05-01 2018-04-30 8044201 char:TotalUnrestrictedFunds 2016-05-01 2017-04-30 8044201 char:TotalRestrictedIncomeFunds 2016-05-01 2017-04-30 8044201 core:WithinOneYear 2018-04-30 8044201 core:WithinOneYear 2017-04-30 8044201 bus:FRS102 2017-05-01 2018-04-30 8044201 bus:AuditExempt-NoAccountantsReport 2017-05-01 2018-04-30 8044201 bus:FullAccounts 2017-05-01 2018-04-30 8044201 bus:PrivateLimitedCompanyLtd 2017-05-01 2018-04-30 8044201 core:FurnitureFittingsToolsEquipment 2017-05-01 2018-04-30 8044201 core:FurnitureFittingsToolsEquipment 2017-04-30 8044201 core:FurnitureFittingsToolsEquipment 2018-04-30
COMPANY REGISTRATION NUMBER: 8044201
CHARITY REGISTRATION NUMBER: 1147216
Westnewton Pre School
Company Limited by Guarantee
Unaudited Financial Statements
30 April 2018
Westnewton Pre School
Company Limited by Guarantee
Financial Statements
Year ended 30 April 2018
Page
Trustees' annual report (incorporating the director's report)
1
Independent examiner's report to the trustees
4
Statement of financial activities (including income and expenditure account)
6
Statement of financial position
7
Statement of cash flows
8
Notes to the financial statements
9
Westnewton Pre School
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30 April 2018
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 April 2018 .
Reference and administrative details
Registered charity name
Westnewton Pre School
Charity registration number
1147216
Company registration number
8044201
Principal office and registered
Westnewton Pre School
office
St Matthews Primary School
Westnewton
Wigton
Cumbria
CA7 3NT
The trustees
Ms S Harrison
Ms N Harrison
Ms S Sinton
Ms J Mashiter
Ms C Satterthwaite
Ms D Scott
Ms L Armstrong
Ms E W Metcalf
(Appointed 26 September 2017)
Company secretary
Ms L Armstrong
Independent examiner
Saint & Co
49 High Street
Wigton
Cumbria
CA7 9NJ
Structure, governance and management
Westnewton Pre School (the Charity) is a company limited by guarantee governed by its Memorandum and Articles of Association and is registered as a charity with the Charities Commission.
The trustees meet 6 times a year but leave the day to day running to the staff of 3 full time employees.
Objectives and activities
The objective of Westnewton Pre School is to provide nursery education for children in the local area between the ages of 2 and 4 years old.
They achieve this by learning through play, structural activities and outdoor play with the correct staff to pupil ratio.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
During the period under review, the charity updated and improved the learning and play resources.
There continues to be ongoing fundraising supported by the parents.
Financial review
The trustees are extremely pleased with the progress to date. There continues to be healthy numbers of children using the facilities and they appreciate the support given by parents.
Plans for future periods
The plans for the future periods are to continue with the same level of service and numbers of children together with capital expenditure on improving the outdoor play area.
The trustees' annual report and the strategic report were approved on 13 November 2018 and signed on behalf of the board of trustees by:
Ms L Armstrong
Charity Secretary
Westnewton Pre School
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Westnewton Pre School
Year ended 30 April 2018
I report to the trustees on my examination of the financial statements of Westnewton Pre School ('the charity') for the year ended 30 April 2018.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Saint & Co Independent Examiner
49 High Street Wigton Cumbria CA7 9NJ
13 November 2018
Westnewton Pre School
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 30 April 2018
2018
2017
Unrestricted funds
Restricted funds
Total funds
Total funds
Note
£
£
£
£
Income and endowments
Donations and legacies
5
2,248
2,248
3,969
Charitable activities
6
46,049
46,049
46,691
Other trading activities
7
15,212
15,212
15,307
Investment income
8
108
108
63
---------
-----
---------
---------
Total income
63,617
63,617
66,030
---------
-----
---------
---------
Expenditure
Expenditure on charitable activities
9,10
57,948
1,100
59,048
59,236
---------
--------
---------
---------
Total expenditure
57,948
1,100
59,048
59,236
---------
--------
---------
---------
---------
--------
---------
---------
Net income and net movement in funds
5,669
( 1,100)
4,569
6,794
---------
--------
---------
---------
Reconciliation of funds
Total funds brought forward
45,811
8,409
54,220
47,426
---------
--------
---------
---------
Total funds carried forward
51,480
7,309
58,789
54,220
---------
--------
---------
---------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Westnewton Pre School
Company Limited by Guarantee
Statement of Financial Position
30 April 2018
2018
2017
Note
£
£
Fixed assets
Tangible fixed assets
16
15,905
16,621
Current assets
Cash at bank and in hand
43,836
38,483
Creditors: amounts falling due within one year
17
( 952)
( 884)
---------
---------
Net current assets
42,884
37,599
---------
---------
Total assets less current liabilities
58,789
54,220
---------
---------
Net assets
58,789
54,220
---------
---------
Funds of the charity
Restricted funds
7,309
8,409
Unrestricted funds
51,480
45,811
---------
---------
Total charity funds
19
58,789
54,220
---------
---------
For the year ending 30 April 2018 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 13 November 2018 , and are signed on behalf of the board by:
Ms J Mashiter
Trustee
Westnewton Pre School
Company Limited by Guarantee
Statement of Cash Flows
Year ended 30 April 2018
2018
2017
£
£
Cash flows from operating activities
Net income
4,569
6,794
Adjustments for:
Depreciation of tangible fixed assets
3,173
3,107
Other interest receivable and similar income
( 108)
( 63)
Accrued expenses
46
182
Changes in:
Trade and other creditors
22
--------
---------
Cash generated from operations
7,702
10,020
Interest received
108
63
--------
---------
Net cash from operating activities
7,810
10,083
--------
---------
Cash flows from investing activities
Purchase of tangible assets
( 2,457)
( 9,518)
--------
---------
Net cash used in investing activities
( 2,457)
( 9,518)
--------
---------
Net increase in cash and cash equivalents
5,353
565
Cash and cash equivalents at beginning of year
38,483
37,918
---------
---------
Cash and cash equivalents at end of year
43,836
38,483
---------
---------
Westnewton Pre School
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 April 2018
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Westnewton Pre School , St Matthews Primary School, Westnewton, Wigton, Cumbria, CA7 3NT.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There were no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies that have had any significant effect on the amounts recognised in the financial statements. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There were no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
Westnewton Pre School (the Charity) is a company limited by guarantee governed by its Memorandum and Articles of Association and is registered as a charity with the Charities Commission.
5. Donations and legacies
Unrestricted Funds
Total Funds 2018
Unrestricted Funds
Total Funds 2017
£
£
£
£
Donations
Donations
2,248
2,248
3,969
3,969
--------
--------
--------
--------
6. Charitable activities
Unrestricted Funds
Total Funds 2018
Unrestricted Funds
Total Funds 2017
£
£
£
£
Performance-related grants
46,049
46,049
46,691
46,691
---------
---------
---------
---------
7. Other trading activities
Unrestricted Funds
Total Funds 2018
Unrestricted Funds
Total Funds 2017
£
£
£
£
Pre-School Fee Income
15,212
15,212
15,307
15,307
---------
---------
---------
---------
8. Investment income
Unrestricted Funds
Total Funds 2018
Unrestricted Funds
Total Funds 2017
£
£
£
£
Bank interest receivable
108
108
63
63
-----
-----
-----
-----
9. Expenditure on charitable activities by fund type
Unrestricted Funds
Restricted Funds
Total Funds 2018
£
£
£
Pre-School
54,817
54,817
Support costs
3,131
1,100
4,231
---------
--------
---------
57,948
1,100
59,048
---------
--------
---------
Unrestricted Funds
Restricted Funds
Total Funds 2017
£
£
£
Pre-School
54,795
54,795
Support costs
3,151
1,290
4,441
---------
--------
---------
57,946
1,290
59,236
---------
--------
---------
10. Expenditure on charitable activities by activity type
Activities undertaken directly
Support costs
Total funds 2018
Total fund 2017
£
£
£
£
Pre-School
54,817
3,284
58,101
58,197
Governance costs
947
947
1,039
---------
--------
---------
---------
54,817
4,231
59,048
59,236
---------
--------
---------
---------
11. Analysis of support costs
Analysis of support costs activity 1
Total 2018
Total 2017
£
£
£
Premises
111
111
295
General office
3,173
3,173
3,107
Governance costs
946
946
1,039
--------
--------
--------
4,230
4,230
4,441
--------
--------
--------
12. Net income
Net income is stated after charging/(crediting):
2018
2017
£
£
Depreciation of tangible fixed assets
3,173
3,107
--------
--------
13. Independent examination fees
2018
2017
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
946
1,039
-----
--------
14. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2018
2017
£
£
Wages and salaries
37,506
37,836
Employer contributions to pension plans
56
---------
---------
37,562
37,836
---------
---------
The average head count of employees during the year was 3 (2017: 3). The average number of full-time equivalent employees during the year is analysed as follows:
2018
2017
No.
No.
Number of staff - type 1
3
3
-----
-----
No employee received employee benefits of more than £60,000 during the year (2017: Nil).
15. Trustee remuneration and expenses
- no remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
16. Tangible fixed assets
Equipment
Total
£
£
Cost
At 1 May 2017
25,046
25,046
Additions
2,457
2,457
---------
---------
At 30 April 2018
27,503
27,503
---------
---------
Depreciation
At 1 May 2017
8,425
8,425
Charge for the year
3,173
3,173
---------
---------
At 30 April 2018
11,598
11,598
---------
---------
Carrying amount
At 30 April 2018
15,905
15,905
---------
---------
At 30 April 2017
16,621
16,621
---------
---------
17. Creditors: amounts falling due within one year
2018
2017
£
£
Accruals and deferred income
930
884
Other creditors - Pension Costs
22
-----
-----
952
884
-----
-----
18. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £ 56 (2017: £Nil).
19. Analysis of charitable funds
Unrestricted funds
At 1 May 2017
Income
Expenditure
At 30 April 2018
£
£
£
£
General funds
45,811
63,617
(57,948)
51,480
---------
---------
---------
---------
At 1 May 2016
Income
Expenditure
At 30 April 2017
£
£
£
£
General funds
37,727
66,030
(57,946)
45,811
---------
---------
---------
---------
Restricted funds
At 1 May 2017
Income
Expenditure
At 30 April 2018
£
£
£
£
Cumbria County Council
6,117
(663)
5,454
Rathbones and Big Lottery
2,292
(437)
1,855
--------
-----
--------
--------
8,409
(1,100)
7,309
--------
-----
--------
--------
At 1 May 2016
Income
Expenditure
At 30 April 2017
£
£
£
£
Cumbria County Council
6,892
(775)
6,117
Rathbones and Big Lottery
2,807
(515)
2,292
--------
-----
--------
--------
9,699
(1,290)
8,409
--------
-----
--------
--------
20. Analysis of net assets between funds
Unrestricted Funds
Restricted Funds
Total Funds 2018
£
£
£
Tangible fixed assets
15,905
15,905
Current assets
36,527
7,309
43,836
Creditors less than 1 year
(952)
(952)
---------
--------
---------
Net assets
51,480
7,309
58,789
---------
--------
---------
Unrestricted Funds
Restricted Funds
Total Funds 2017
£
£
£
Tangible fixed assets
16,621
33,242
Current assets
30,074
8,409
76,966
Creditors less than 1 year
(884)
(1,768)
---------
--------
-----------
Net assets
45,811
8,409
108,440
---------
--------
-----------