REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements |
for the Year Ended 31st August 2023 |
for |
BOVINGDON PRE-SCHOOL |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements |
for the Year Ended 31st August 2023 |
for |
BOVINGDON PRE-SCHOOL |
BOVINGDON PRE-SCHOOL |
Contents of the Financial Statements |
for the year ended 31st August 2023 |
Page |
Report of the Trustees | 1 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 | to | 7 |
Notes to the Financial Statements | 8 | to | 13 |
BOVINGDON PRE-SCHOOL (REGISTERED NUMBER: 05230651) |
Report of the Trustees |
for the year ended 31st August 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 31st August 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 |
Objectives and aims |
Bovingdon Pre-School is a charity whose aims are: |
- | To enhance the development and education of children under statutory school age in a parent-involving, community based group. |
- | To provide a safe, secure and stimulating environment. |
- | To work within a framework which ensures equality of opportunity for all children and families. |
- | To encourage children to be independent and have fun and friendship with children and other adults. |
Public benefit |
The charity acknowledges its requirements to demonstrate clearly that it must have charitable purposes or aims that are for the public benefit. The charity has referred to guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning future activities. |
Volunteers |
Volunteers continue to play an important role in the day-to-day running of the Pre-School and organising fund raising events. |
FINANCIAL REVIEW |
Financial position |
The charity has general reserves of £59,181 (2020 £56,761) at the end of the year, which are sufficient to cover months 5-6 months charitable expenses and other costs. |
Principal funding sources |
The majority of the income for the Pre-School comes from fees. These are made up from payments by parents/carers as well as Government grants. The funding received from fundraising is generally used to buy more play equipment. |
Investment policy and objectives |
Most of the Charity's funds are spent in the short term, but a prudent amount is kept in reserves. This reserve is invested in a commercial Common Investment Fund which continues to show a low return. The Charity also holds a savings account with Virgin Money which pays a modest interest rate. |
Reserves policy |
The Management Committee feels that a level of reserves is required to meet 2-3 months of normal expenditure. This is based on the charity's size and the level of financial commitments held. The Management Committee aim to ensure the charity will be able to continue to fulfill its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Management Committee will endeavour not to set aside funds unnecessarily. |
Going concern |
The charity has adequate reserves to continue as a going concern for the foreseeable future. |
BOVINGDON PRE-SCHOOL (REGISTERED NUMBER: 05230651) |
Report of the Trustees |
for the year ended 31st August 2023 |
FUTURE PLANS |
The Pre-School plans to continue to fulfill its aims in the forthcoming years. We will be looking to introduce more flexible staffing arrangements to ensure a better match with the low numbers of children expected at the start of each academic year. It is also planned to improve the marketing of the Pre-School and the services we provide in order to attract more children from outside our normal catchment area and to encourage more 2 year olds to register with the Pre-School. |
We will aim to engage more parents in the running of the Pre-School, whether on the Management Committee, or as part of the Pre-School Parents Group helping with fund raising or by helping in the Pre-School on a day-to-day basis. |
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. |
The Pre-School is a charitable company limited by guarantee, incorporated on 15th September 2004 and registered as a charity on 22nd December 2004. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound-up, members are required to contribute an amount not exceeding £1. |
Recruitment and appointment of new trustees |
Committee members are volunteers who give their time to the Pre-School. We encourage new members and involvement from all parents. As well as the day-to-day running of the Pre-School we endeavour to raise extra income via fundraising events run by the Pre-School Parents Group. We hold monthly meetings, where Pre-School policies are reviewed and other issues relating to the Pre-School are raised and dealt with. |
Organisational structure |
The Pre-School has a Management Committee made up of between 5 and 12 members of which at least 60% must be Family Members of the company at the time of election. The Committee members will serve until the next AGM when they shall be eligible for re-election unless they have served in any capacity for 6 consecutive years (4 for co-opted members). |
The Management Committee are responsible for setting and reviewing the policies of the Pre-School, whilst the day-to-day running of the Pre-School is managed by the Pre-School Supervisor. |
Induction and training of new trustees |
New trustees are given a 'Welcome Pack' which includes details of their responsibilities as well as a copy of the Memorandum and Articles of Association. Additionally, they are briefed by the Chair of the Management Committee or another existing trustee about the workings of the Committee. |
Related parties |
Guidance and recommendations for the running of the Pre-School are received from Ofsted and the Pre-School Learning Alliance. |
Risk management |
The Management Committee and Pre-School staff carry out regular reviews of the risks to the charity. The major risks are the health and safety of the children, staff, helpers and visitors to the Pre-School and procedures are in place to ensure compliance with health and safety regulations. |
Financial Risks are mitigated by maintaining a suitable level of reserves and regular reviews of future attendance levels are undertaken, to ensure sufficient fee income is maintained. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
BOVINGDON PRE-SCHOOL (REGISTERED NUMBER: 05230651) |
Report of the Trustees |
for the year ended 31st August 2023 |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Nikki Drake |
Attenboroughs (Accountants) Limited |
Chartered Certified Accountants |
1 Tower House |
Tower Centre |
Hoddesdon |
Hertfordshire |
EN11 8UR |
Pre-School Manager |
Ms K Warner |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Bovingdon Pre-School |
Independent examiner's report to the trustees of Bovingdon Pre-School ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st August 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 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. |
Nikki Drake |
Attenboroughs (Accountants) Limited |
Chartered Certified Accountants |
1 Tower House |
Tower Centre |
Hoddesdon |
Hertfordshire |
EN11 8UR |
4th April 2024 |
BOVINGDON PRE-SCHOOL |
Statement of Financial Activities |
for the year ended 31st August 2023 |
31/8/23 | 31/8/22 |
Unrestricted | Total |
funds | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities | 2 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Raising funds | 4 |
Charitable activities |
Other |
Total |
Net gains/(losses) on investments | ( |
) |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 46,171 |
BOVINGDON PRE-SCHOOL (REGISTERED NUMBER: 05230651) |
Balance Sheet |
31st August 2023 |
31/8/23 | 31/8/22 |
Unrestricted | Total |
funds | funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 9 |
Investments | 10 |
CURRENT ASSETS |
Debtors | 11 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 12 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 13 |
Unrestricted funds | 46,171 |
TOTAL FUNDS | 46,171 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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. |
BOVINGDON PRE-SCHOOL (REGISTERED NUMBER: 05230651) |
Balance Sheet - continued |
31st August 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 |
BOVINGDON PRE-SCHOOL |
Notes to the Financial Statements |
for the year ended 31st August 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. |
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. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings | - |
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 notes to the financial statements. |
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. |
BOVINGDON PRE-SCHOOL |
Notes to the Financial Statements - continued |
for the year ended 31st August 2023 |
2. | OTHER TRADING ACTIVITIES |
31/8/23 | 31/8/22 |
£ | £ |
Fundraising events |
3. | INVESTMENT INCOME |
31/8/23 | 31/8/22 |
£ | £ |
Deposit account interest |
4. | RAISING FUNDS |
Raising donations and legacies |
31/8/23 | 31/8/22 |
£ | £ |
Support costs |
5. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31/8/23 | 31/8/22 |
£ | £ |
Depreciation - owned assets |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31st August 2023 nor for the year ended 31st August 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31st August 2023 nor for the year ended 31st August 2022. |
7. | STAFF COSTS |
31/8/23 | 31/8/22 |
£ | £ |
Wages and salaries |
Other pension costs |
86,263 | 87,395 |
The average monthly number of employees during the year was as follows: |
31/8/23 | 31/8/22 |
Pre-School |
BOVINGDON PRE-SCHOOL |
Notes to the Financial Statements - continued |
for the year ended 31st August 2023 |
7. | STAFF COSTS - continued |
8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
funds |
£ |
INCOME AND ENDOWMENTS FROM |
Charitable activities |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Other |
Total |
Net gains/(losses) on investments | ( |
) |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 46,171 |
BOVINGDON PRE-SCHOOL |
Notes to the Financial Statements - continued |
for the year ended 31st August 2023 |
9. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1st September 2022 and 31st August 2023 |
DEPRECIATION |
At 1st September 2022 |
Charge for year |
At 31st August 2023 |
NET BOOK VALUE |
At 31st August 2023 |
At 31st August 2022 |
10. | FIXED ASSET INVESTMENTS |
Listed |
investments |
£ |
MARKET VALUE |
At 1st September 2022 and 31st August 2023 |
NET BOOK VALUE |
At 31st August 2023 | 2,857 |
At 31st August 2022 | 2,857 |
There were no investment assets outside the UK. |
Cost or valuation at 31st August 2023 is represented by: |
Listed |
investments |
£ |
Valuation in 2018 | 38 |
Valuation in 2019 | 94 |
Valuation in 2021 | 106 |
Valuation in 2022 | (486 | ) |
Cost | 3,105 |
2,857 |
BOVINGDON PRE-SCHOOL |
Notes to the Financial Statements - continued |
for the year ended 31st August 2023 |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/23 | 31/8/22 |
£ | £ |
Trade debtors |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/23 | 31/8/22 |
£ | £ |
Trade creditors |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
13. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1/9/22 | in funds | 31/8/23 |
£ | £ | £ |
Unrestricted funds |
General fund | 46,171 | (15,426 | ) | 30,745 |
TOTAL FUNDS | (15,426 | ) | 30,745 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 107,946 | (123,372 | ) | (15,426 | ) |
TOTAL FUNDS | ( |
) | (15,426 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1/9/21 | in funds | 31/8/22 |
£ | £ | £ |
Unrestricted funds |
General fund | 59,181 | (13,010 | ) | 46,171 |
TOTAL FUNDS | 59,181 | (13,010 | ) | 46,171 |
BOVINGDON PRE-SCHOOL |
Notes to the Financial Statements - continued |
for the year ended 31st August 2023 |
13. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 108,959 | (121,483 | ) | (486 | ) | (13,010 | ) |
TOTAL FUNDS | 108,959 | (121,483 | ) | (486 | ) | (13,010 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1/9/21 | in funds | 31/8/23 |
£ | £ | £ |
Unrestricted funds |
General fund | 59,181 | (28,436 | ) | 30,745 |
TOTAL FUNDS | 59,181 | (28,436 | ) | 30,745 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 216,905 | (244,855 | ) | (486 | ) | (28,436 | ) |
TOTAL FUNDS | 216,905 | (244,855 | ) | (486 | ) | (28,436 | ) |
14. | RELATED PARTY DISCLOSURES |