IRIS Accounts Production v23.3.1.45 Other Company accounts True false Pounds 1.8.22 31.7.23 31.7.23 FY FRS 102 Independent examiner Large and medium-sized companies regime for accounts Full Charities SORP true true true true false true false false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh058859352022-07-31058859352023-07-31058859352022-08-012023-07-31058859352021-07-31058859352021-08-012022-07-31058859352022-07-3105885935ns11:Originalns0:CharitableCompanyLimitedByGuarantee2022-08-012023-07-3105885935ns11:Original2022-08-012023-07-3105885935ns15:PoundSterlingns11:Original2022-08-012023-07-3105885935ns11:Original2022-07-3105885935ns11:Original2023-07-3105885935ns11:Originalns11:FRS1022022-08-012023-07-3105885935ns11:IndependentExaminationCharityns11:Original2022-08-012023-07-3105885935ns11:Originalns11:LargeMedium-sizedCompaniesRegimeForAccounts2022-08-012023-07-3105885935ns11:Originalns11:FullAccounts2022-08-012023-07-3105885935ns11:Originalns11:CharitiesSORP2022-08-012023-07-3105885935ns11:Originalns16:EnglandWales2022-08-012023-07-3105885935ns11:Originalns11:RegisteredOffice2022-08-012023-07-3105885935ns11:Originalns0:Trustee22022-08-012023-07-3105885935ns11:Originalns0:Trustee12022-08-012023-07-3105885935ns11:Originalns0:Trustee32022-08-012023-07-3105885935ns11:Originalns0:Trustee42022-08-012023-07-3105885935ns11:Originalns0:Trustee52022-08-012023-07-3105885935ns11:Originalns0:Trustee62022-08-012023-07-3105885935ns0:Trustee7ns11:Original2022-08-012023-07-3105885935ns0:Trustee8ns11:Original2022-08-012023-07-3105885935ns11:Originalns0:Trustee92022-08-012023-07-3105885935ns11:Originalns0:Trustee102022-08-012023-07-3105885935ns0:Trustee11ns11:Original2022-08-012023-07-3105885935ns11:Originalns0:TotalUnrestrictedFunds2022-08-012023-07-3105885935ns11:Originalns0:TotalRestrictedIncomeFunds2022-08-012023-07-3105885935ns11:Original2021-08-012022-07-3105885935ns11:Originalns0:Activity82022-08-012023-07-3105885935ns11:Originalns0:Activity8ns0:TotalUnrestrictedFunds2022-08-012023-07-3105885935ns11:Originalns0:Activity8ns0:TotalRestrictedIncomeFunds2022-08-012023-07-3105885935ns11:Originalns0:Activity82021-08-012022-07-3105885935ns11:Originalns0:TotalUnrestrictedFunds2022-07-3105885935ns11:Originalns0:TotalRestrictedIncomeFunds2022-07-3105885935ns11:Original2021-07-3105885935ns11:Originalns0:TotalUnrestrictedFunds2023-07-3105885935ns11:Originalns0:TotalRestrictedIncomeFunds2023-07-3105885935ns11:Original2022-07-3105885935ns11:Originalns0:TotalUnrestrictedFundsns10:WithinOneYear2023-07-3105885935ns11:Originalns0:TotalRestrictedIncomeFundsns10:WithinOneYear2023-07-3105885935ns11:Originalns10:WithinOneYear2023-07-3105885935ns11:Originalns10:WithinOneYear2022-07-3105885935ns11:Original22022-08-012023-07-3105885935ns11:Original32022-08-012023-07-3105885935ns11:Originalns0:TotalUnrestrictedFunds2021-08-012022-07-3105885935ns11:Originalns0:TotalRestrictedIncomeFunds2021-08-012022-07-3105885935ns11:Originalns0:Activity8ns0:TotalUnrestrictedFunds2021-08-012022-07-3105885935ns11:Originalns0:Activity8ns0:TotalRestrictedIncomeFunds2021-08-012022-07-31
REGISTERED COMPANY NUMBER: 05885935 (England and Wales)
REGISTERED CHARITY NUMBER: 1142554







Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 July 2023

for

First Step Pre-school Ltd

First Step Pre-school Ltd






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Report of the Trustees 1 to 4

Independent Examiner's Report 5 to 6

Statement of Financial Activities 7

Statement of Financial Position 8 to 9

Notes to the Financial Statements 10 to 15

First Step Pre-school Ltd (Registered number: 05885935)

Report of the Trustees
for the Year Ended 31 July 2023


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2023. The trustees have adopted the provisions of 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
Principle activity and objects of the charity
The principal activity and object of the company and charity, in the period under review, was to develop knowledge, understanding and curiosity of their environment for children aged 2 years to 4 years 11 months.

Public benefit
The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

First Step Pre-school has been offering early childhood education and benefitting the community of Thornbury for the last thirty years. We welcome all children in the local community from every background.

Our aims are to provide:
a) An environment which is full of curiosity within a secure setting
b) To adhere to and follow both the aims and objectives of Ofsted and the EYFS
c) We will provide flexible sessions offering 2 year old, 30 hour and NEG funding
d) We will employ qualified staff who have a good knowledge of children's development
e) We will support children to be school ready for transition

Our work means we work closely with the local primary schools. This work is of benefit to our children and to the schools themselves as well as the wider community.

ACHIEVEMENT AND PERFORMANCE
Achievements, performance and financial review of the charity
The Charity has continued to provide pre-school sessions for children from two to five years old as outlined above.

The Committee Members have continued to give their time to support the running of the pre-school. The Directors would like to thank everyone who gave their time and supported the fundraising activities and events carried out by the Charity in the year.

Income totalled £195,025 (2022: £164,667) and the total expenditure was £188,075 (2022: £171,960) resulting in a surplus of £6,949 (2022: £7,293 deficit) for the year. The financial position at the end of the year was such that the charity had sufficient liquid funds to cover its liabilities.

The directors are confident that the charity will continue to further achieve its objectives in future years.


First Step Pre-school Ltd (Registered number: 05885935)

Report of the Trustees
for the Year Ended 31 July 2023

FINANCIAL REVIEW
Reserves policy
In line with guidance issued by the Charity Commission, the Trustees have reviewed the charity's need for reserves.

Restricted Funds
Money received through grants or specific fundraising are restricted funds and can only legally be used for the particular purpose or project that the donor provided them for. Restricted funds will need to be accounted for separately to ensure that they are not accidently used for another purpose. Occasionally, there is a time lag between the receipt of these funds and the related expenditure, thereby resulting in Pre-school holding the funds until payment is made.

Unrestricted Funds
Funds received from other sources of income (for example, payments for childcare places, or general fundraising), will generally be unrestricted funds and may be used as and when required, as costs become due. From the unrestricted funds we have set aside some money, called designated funds for specific purposes outlined in the section below. Any remaining funds are our reserves or working capital, which are freely available to spend on any of the charity's activities.

Income levels vary during the year, but expenditure levels remain relatively constant throughout. Income is at its lowest during the autumn term rising during the spring to its highest level in the summer term, this is due to the availability of grant funding. The Trustees consider it prudent that between 2 and 3 months' administration and support costs should be kept in reserve. This level will ensure we have adequate resources to cover our outgoings whilst income is at its lowest level during the autumn term and to provide a suitable level of protection against delayed or late payments. The Trustees will monitor and review this reserve level with reference to income forecasts and changes in funding on an annual basis to ensure that it continues to meet the needs of First Step Pre-school Ltd. and that it is balanced with our responsibility to spend our income on promoting our charitable objectives.

Designated funds are amounts specifically excluded from being used to meet the day-to-day running costs of the Pre-school. Designated Funds currently held:
1. General fundraising: these funds are spent at the discretion of the trustees to provide additional resources or pay for special events outside the normal running costs of the preschool.
2. Crossways sinking fund: to cover costs not borne by South Gloucestershire Council in provision of the leased Crossways building, or to meet any costs associated with negotiating Crossways lease rent reviews. The establishment of this fund forms part of the lease agreement and is built up by regular transfers from working capital until a cap is reached as determined by the lease agreement.
3. Designated funds to include Redundancy, Larger Maintenance, 3 month running costs and New building

The Trustees will review this reserve level on an annual basis to ensure that it continues to meet the needs of First Step Pre-school Ltd and monitor spending at First Step Pre-school committee meetings.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.


First Step Pre-school Ltd (Registered number: 05885935)

Report of the Trustees
for the Year Ended 31 July 2023

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05885935 (England and Wales)

Registered Charity number
1142554

Registered office
C/O Crossways Infants School
Knapp Road
Thornbury
Bristol
S GLOS
BS35 2HQ

Trustees
Ms J Spence Chair
Mr E Goodeve-Docker
Ms S Curtis
Mr A Cooper
Ms K Campbell (resigned 25.1.23)
Mrs A Thompson (resigned 23.11.22)
Ms S Turner
Ms V Carvey (resigned 23.11.22)
Ms F Heller
Ms S Graham (appointed 23.11.22)
Mrs E Heining (appointed 23.11.22)

Independent Examiner
Stanley Joseph Limited
Chartered Accountants
Suite 1
Liberty House
South Liberty Lane
Bristol
BS3 2ST

MANAGEMENT AND GOVERNANCE
Trustees for the Charity, also Directors of the company, are elected each year at the Annual General Meeting and are known as 'the committee'. Candidates are proposed and seconded by the AGM attendees; election is by a show of hands or a written vote.

The committee meets about 6 times per year.

Approved by order of the board of trustees on 22 November 2023 and signed on its behalf by:



First Step Pre-school Ltd (Registered number: 05885935)

Report of the Trustees
for the Year Ended 31 July 2023




Mr E Goodeve-Docker - Trustee

Independent Examiner's Report to the Trustees of
First Step Pre-school Ltd

Independent examiner's report to the trustees of First Step Pre-school Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2023.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your 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 Report to the Trustees of
First Step Pre-school Ltd


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 Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts 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 accounts 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.








Philip Helps

Stanley Joseph Limited
Chartered Accountants
Suite 1
Liberty House
South Liberty Lane
Bristol
BS3 2ST

28 November 2023

First Step Pre-school Ltd

Statement of Financial Activities
for the Year Ended 31 July 2023

31.7.23 31.7.22
Unrestricted Restricted Total Total
funds fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Charitable activities 193,904 - 193,904 164,622

Donations and legacies 2 770 - 770 28
Investment income 3 350 - 350 17
Total 195,024 - 195,024 164,667

EXPENDITURE ON
Charitable activities
Charitable activities 188,075 - 188,075 171,960

NET INCOME/(EXPENDITURE) 6,949 - 6,949 (7,293 )


RECONCILIATION OF FUNDS
Total funds brought forward 112,987 - 112,987 120,280

TOTAL FUNDS CARRIED FORWARD 119,936 - 119,936 112,987

First Step Pre-school Ltd (Registered number: 05885935)

Statement of Financial Position
31 July 2023

31.7.23 31.7.22
Unrestricted Restricted Total Total
funds fund funds funds
Notes £    £    £    £   
CURRENT ASSETS
Cash at bank and in hand 124,832 - 124,832 125,973

CREDITORS
Amounts falling due within one year 7 (4,896 ) - (4,896 ) (12,986 )

NET CURRENT ASSETS 119,936 - 119,936 112,987

TOTAL ASSETS LESS CURRENT
LIABILITIES

119,936

-

119,936

112,987

NET ASSETS 119,936 - 119,936 112,987
FUNDS 8
Unrestricted funds 119,936 112,987
TOTAL FUNDS 119,936 112,987

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


First Step Pre-school Ltd (Registered number: 05885935)

Statement of Financial Position - continued
31 July 2023

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


The financial statements were approved by the Board of Trustees and authorised for issue on 22 November 2023 and were signed on its behalf by:





Mr E Goodeve-Docker - Trustee

First Step Pre-school Ltd

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the Trustee's Report.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any
indication that those assets have suffered an impairment loss. If there is an indication
of possible impairment, the recoverable amount of any affected asset is estimated and
compared with its carrying amount. If estimated recoverable amount is lower, the
carrying amount is reduced to its estimated recoverable amount, and an impairment loss

First Step Pre-school Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

1. ACCOUNTING POLICIES - continued

Impairment of assets
is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carry amount of the asset is increased
to the revised estimate of its recoverable amount, but not in excess of the amount that
would have been determined had no impairment loss been recognised for the asset in
prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

2. DONATIONS AND LEGACIES
31.7.23 31.7.22
£    £   
Fundraising events 770 28

3. INVESTMENT INCOME
31.7.23 31.7.22
£    £   
Deposit account interest 350 17

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2023 nor for the year ended 31 July 2022.



First Step Pre-school Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. STAFF COSTS

The average monthly number of employees during both the current and prior year was 12.

No employees received emoluments in excess of £60,000 in the current or prior year

The average monthly number of employees during the year was as follows:

31.7.23 31.7.22
Teaching and administration 12 12

No employees received emoluments in excess of £60,000.

The average monthly number of employees during both the current and prior year was 12.

No employees received emoluments in excess of £60,000 in the current or prior year

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Charitable activities 164,622 - 164,622

Donations and legacies 28 - 28
Investment income 17 - 17
Total 164,667 - 164,667

EXPENDITURE ON
Charitable activities
Charitable activities 171,960 - 171,960

NET INCOME/(EXPENDITURE) (7,293 ) - (7,293 )


RECONCILIATION OF FUNDS
Total funds brought forward 120,280 - 120,280

TOTAL FUNDS CARRIED FORWARD 112,987 - 112,987

First Step Pre-school Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 2 -
Accrued expenses 4,894 12,986
4,896 12,986

8. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.8.22 in funds funds 31.7.23
£    £    £    £   
Unrestricted funds
General fund 43,388 11,029 6,898 61,315
Designated funds 69,599 (4,080 ) (6,898 ) 58,621
112,987 6,949 - 119,936
TOTAL FUNDS 112,987 6,949 - 119,936

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 193,904 (182,875 ) 11,029
Designated funds 1,120 (5,200 ) (4,080 )
195,024 (188,075 ) 6,949
TOTAL FUNDS 195,024 (188,075 ) 6,949


First Step Pre-school Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net Transfers
movement between At
At 1.8.21 in funds funds 31.7.22
£    £    £    £   
Unrestricted funds
General fund 68,362 (5,319 ) (19,655 ) 43,388
Designated funds 51,918 (1,974 ) 19,655 69,599
120,280 (7,293 ) - 112,987
TOTAL FUNDS 120,280 (7,293 ) - 112,987

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 164,621 (169,940 ) (5,319 )
Designated funds 46 (2,020 ) (1,974 )
164,667 (171,960 ) (7,293 )
TOTAL FUNDS 164,667 (171,960 ) (7,293 )

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
movement between At
At 1.8.21 in funds funds 31.7.23
£    £    £    £   
Unrestricted funds
General fund 68,362 5,710 (12,757 ) 61,315
Designated funds 51,918 (6,054 ) 12,757 58,621
120,280 (344 ) - 119,936
TOTAL FUNDS 120,280 (344 ) - 119,936

First Step Pre-school Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 358,525 (352,815 ) 5,710
Designated funds 1,166 (7,220 ) (6,054 )
359,691 (360,035 ) (344 )
TOTAL FUNDS 359,691 (360,035 ) (344 )

9. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2023 or for the year ended 31 July 2022.