Charity registration number 1104578
Company registration number 4934227 (England and Wales)
QUEENSWAY CHAPEL PRE-SCHOOL
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
QUEENSWAY CHAPEL PRE-SCHOOL
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs A Arnold
Mrs R E Erwin
Mrs J M Lloyd
Secretary
Mrs R E Erwin
Charity number
1104578
Company number
4934227
Registered office
Queensway
MELKSHAM
Wiltshire
SN12 7LQ
Independent examiner
Chappell Associates Limited
Westfield House
Bratton Road
Westbury
Wiltshire
BA13 3EP
QUEENSWAY CHAPEL PRE-SCHOOL
CONTENTS
Page
Trustees report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 11
QUEENSWAY CHAPEL PRE-SCHOOL
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2022
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the 's [governing document], the Companies Act 2006 and "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)" (effective 1 January 2019).

Objectives and activities

The objects and principal activities are :

 

 

  1. to work with parents and children in ways consistent with the principles of the Christian religion to promote the physical, intellectual and social development and well-being of pre‑school children in Melksham and neighbouring areas, particularly those who are disadvantaged, to ensure they are ready to flourish when they get to school; and,

     

  2. to advance the education of parents of children attending the pre‑school.

     

  3. that the Trustees have had regard to the public guidance issued by the Commission on public benefit.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the should undertake.

Achievements and performance
Financial review

It is the policy of the that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the ’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management
The is a company limited by guarantee .... .

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mrs A Arnold
Mrs R E Erwin
Mrs J M Lloyd
Mrs N V Skinner
(Appointed 6 July 2021 and resigned 7 March 2022)

[Details of method of recruitment and appointment of trustees.]

 

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

QUEENSWAY CHAPEL PRE-SCHOOL
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 2 -

The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

 

The company's current policy concerning the payment of trade creditors is to:

 

Trade creditors of the company at the year end were equivalent to XX day's purchases, based on the average daily amount invoiced by suppliers during the year.

[Details of organisational structure.]

The trustees report was approved by the Board of Trustees.

Mrs R E Erwin
Trustee
12 September 2022
QUEENSWAY CHAPEL PRE-SCHOOL
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF QUEENSWAY CHAPEL PRE-SCHOOL
- 3 -

I report to the trustees on my examination of the financial statements of Queensway Chapel Pre-school for the year ended 31 March 2022.

Responsibilities and basis of report

As the trustees of the (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 financial statements of the 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 ’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the ’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

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 that in any material respect:

1

accounting records were not kept in respect of the 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 financial statements to be reached.

Chappell Associates Limited
Westfield House
Bratton Road
Westbury
Wiltshire
BA13 3EP
Dated: 12 September 2022
QUEENSWAY CHAPEL PRE-SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2022
- 4 -
Unrestricted
Unrestricted
funds
funds
2022
2021
Notes
£
£
Income from:
Donations and legacies
3
284,929
231,856
Charitable activities
4
5,349
14,882
Investments
5
2
90
Total income
290,280
246,828
Expenditure on:
Charitable activities
6
279,484
235,192
Net income for the year/
Net movement in funds
10,796
11,636
Fund balances at 1 April 2021
172,917
161,281
Fund balances at 31 March 2022
183,713
172,917

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
QUEENSWAY CHAPEL PRE-SCHOOL
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 5 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
10
63,899
69,223
Current assets
Cash at bank and in hand
120,714
104,594
Creditors: amounts falling due within one year
11
(900)
(900)
Net current assets
119,814
103,694
Total assets less current liabilities
183,713
172,917
Income funds
Unrestricted funds
183,713
172,917
183,713
172,917

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 12 September 2022
Trustee
Company registration number 4934227
QUEENSWAY CHAPEL PRE-SCHOOL
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 6 -
1
Accounting policies
Charity information

Queensway Chapel Pre-school is a private company limited by guarantee incorporated in England and Wales. The registered office is Queensway, MELKSHAM, Wiltshire, SN12 7LQ.

1.1
Accounting convention

The financial statements have been prepared in accordance with the 's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The is a Public Benefit Entity as defined by FRS 102.

 

The has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the . Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the .
1.4
Income
Income is recognised when the 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 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 has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
QUEENSWAY CHAPEL PRE-SCHOOL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 7 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

 

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
over the term of the lease

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

QUEENSWAY CHAPEL PRE-SCHOOL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 8 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the ’s contractual obligations expire or are discharged or cancelled.

1.9
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Critical accounting estimates and judgements

In the application of the accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Donations and legacies
Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
Grants
203,330
194,814
Membership fees
81,599
37,042
4
Charitable activities
Charitable Income Heading 1
Charitable Income Heading 1
2022
2021
£
£
Other income
5,349
14,882
QUEENSWAY CHAPEL PRE-SCHOOL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 9 -
5
Investments
Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
Interest receivable
2
90
6
Charitable activities
Charitable Expenditure Heading 1
Charitable Expenditure Heading 1
2022
2021
£
£
Charitable expenditure heading 1
(1)
-
Share of support costs (see note 7)
279,485
235,192
279,484
235,192
QUEENSWAY CHAPEL PRE-SCHOOL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 10 -
7
Support costs
Support costs
Governance costs
2022
Support costs
Governance costs
2021
£
£
£
£
£
£
Depreciation
5,324
-
5,324
5,324
-
5,324
Rent,rates and insurance
3,847
-
3,847
2,607
-
2,607
Utilities
4,894
-
4,894
3,585
-
3,585
Maintenance
11,604
-
11,604
10,052
-
10,052
Salaries
227,761
-
227,761
195,304
-
195,304
Administration costs
11,621
-
11,621
8,625
-
8,625
Catering
1,089
-
1,089
1,451
-
1,451
Educational resources
12,595
-
12,595
7,618
-
7,618
Bank charges and interest
750
-
750
626
-
626
279,485
-
279,485
235,192
-
235,192
Analysed between
Charitable activities
279,485
-
279,485
235,192
-
235,192

 

QUEENSWAY CHAPEL PRE-SCHOOL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 11 -
8
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the during the year.
9
Employees

The average monthly number of employees during the year was:

2022
2021
Number
Number
23
21
There were no employees whose annual remuneration was more than £60,000.
10
Tangible fixed assets
Leasehold land and buildings
£
Cost
At 1 April 2021
158,827
At 31 March 2022
158,827
Depreciation and impairment
At 1 April 2021
89,604
Depreciation charged in the year
5,324
At 31 March 2022
94,928
Carrying amount
At 31 March 2022
63,899
At 31 March 2021
69,223

 

11
Creditors: amounts falling due within one year
2022
2021
£
£
Accruals and deferred income
900
900
12
Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

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