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REGISTERED COMPANY NUMBER: 05230651 (England and Wales)
REGISTERED CHARITY NUMBER: 1107414












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
05230651 (England and Wales)

BOVINGDON PRE-SCHOOL (REGISTERED NUMBER: 05230651)

Report of the Trustees
for the year ended 31st August 2023


Registered Charity number
1107414

Registered office
Memorial Hall
High Street Bovingdon
Hemel Hempstead
Hertfordshire
HP3 0HJ

Trustees
E Campbell-Smith - Chair (resigned 1/9/2023)
M Mourau (resigned 1/9/2023)
F Reilly (resigned 1/9/2023)
M Jackson Treasurer (resigned 1/9/2023)
L Moxley (resigned 1/9/2023)
H Richardson (appointed 31/10/2022)
A Mead (appointed 1/9/2023)
K Carruthers (appointed 1/9/2023)
L Gavin (appointed 1/9/2023)
K Stuart (appointed 1/9/2023)
E Wilson (appointed 1/9/2023)

Company Secretary
K Carruthers

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 3rd April 2024 and signed on its behalf by:





A Mead - Trustee

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 2,087 -

Charitable activities
Early Years Education 105,567 106,320

Other trading activities 2 212 2,633
Investment income 3 80 6
Total 107,946 108,959

EXPENDITURE ON
Raising funds 4 - 7,124

Charitable activities
Early Years Education 101,143 95,284

Other 22,229 19,075
Total 123,372 121,483

Net gains/(losses) on investments - (486 )

NET INCOME/(EXPENDITURE) (15,426 ) (13,010 )


RECONCILIATION OF FUNDS
Total funds brought forward 46,171 59,181

TOTAL FUNDS CARRIED FORWARD 30,745 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 1,112 1,669
Investments 10 2,857 2,857
3,969 4,526

CURRENT ASSETS
Debtors 11 843 2,143
Cash at bank and in hand 28,467 44,399
29,310 46,542

CREDITORS
Amounts falling due within one year 12 (2,534 ) (4,897 )

NET CURRENT ASSETS 26,776 41,645

TOTAL ASSETS LESS CURRENT
LIABILITIES

30,745

46,171

NET ASSETS 30,745 46,171
FUNDS 13
Unrestricted funds 30,745 46,171
TOTAL FUNDS 30,745 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 3rd April 2024 and were signed on its behalf by:





A Mead - Trustee

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 - 25% on cost

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 212 2,633

3. INVESTMENT INCOME
31/8/23 31/8/22
£    £   
Deposit account interest 80 6

4. RAISING FUNDS

Raising donations and legacies
31/8/23 31/8/22
£    £   
Support costs - 7,124

5. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31/8/23 31/8/22
£    £   
Depreciation - owned assets 557 556

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 85,021 85,420
Other pension costs 1,242 1,975
86,263 87,395

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

31/8/23 31/8/22
Pre-School 9 8

BOVINGDON PRE-SCHOOL

Notes to the Financial Statements - continued
for the year ended 31st August 2023


7. STAFF COSTS - continued

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

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£   
INCOME AND ENDOWMENTS FROM
Charitable activities
Early Years Education 106,320

Other trading activities 2,633
Investment income 6
Total 108,959

EXPENDITURE ON
Raising funds 7,124

Charitable activities
Early Years Education 95,284

Other 19,075
Total 121,483

Net gains/(losses) on investments (486 )

NET INCOME/(EXPENDITURE) (13,010 )


RECONCILIATION OF FUNDS
Total funds brought forward 59,181

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 14,359
DEPRECIATION
At 1st September 2022 12,690
Charge for year 557
At 31st August 2023 13,247
NET BOOK VALUE
At 31st August 2023 1,112
At 31st August 2022 1,669

10. FIXED ASSET INVESTMENTS
Listed
investments
£   
MARKET VALUE
At 1st September 2022 and 31st August 2023 2,857
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 843 2,143

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/23 31/8/22
£    £   
Trade creditors 1,111 2,628
Social security and other taxes 287 1,045
Other creditors 65 384
Accruals and deferred income 1,071 840
2,534 4,897

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 46,171 (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 107,946 (123,372 ) (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

There were no related party transactions for the year ended 31st August 2023.