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Borden Village Pre School Limited |
For the year ended 31 August 2023
Report of the Trustees and Unaudited Financial Statements
2
For the year ended 31 August 2023
Borden Village Pre School Limited
Contents Page
1
Report of the Trustees
2
Independent Examiner's Report to the Trustees
3
Statement of Financial Activities
4
Statement of Financial Position
5 to 13
Notes to the Financial Statements
3
For the year ended 31 August 2023
Borden Village Pre School Limited
Report of the Trustees
The Trustee, who is also director for the purposes of company law, have pleasure in presenting their report and the financial |
statements for the charitable company for the year ended 31 August 2023. The Trustee 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 the Republic of Ireland (FRS 102) (effective 1 |
January 2019). |
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects and activities of the charitable company are to establish or secure the establishment of a pre-school and to maintain and manage the same (whether alone or in co-operation with any statutory authority or other person or body) in furtherance of the objects. The School will still strive to provide the best start for all children we can however with the financial restraints put on us it's always difficult. We did not achieve our goal of building a new sensory building due to a lack of funds. This is still our goal though. We are aiming to come up with ways of getting in more funding such as additional hours in the mornings and afternoons, this however is a balancing act with staff pay. |
The trustee have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. |
ACHIEVEMENTS AND PERFORMANCE |
Once again, we have continued to supply a high level of performance throughout the year. We've had our latest Ofsted inspection which resulted in us achieving a Good grade.This despite the goal posts being moved each time. It seems they need to condone their roles sometimes. There are continuing pressures regarding finance for all Preschools/Nurseries as the Government refuses to take seriously the educational role we play. They still see us as glorified Child Minders although they still come up with new rules and regulations each year. My staff continue to support the Preschool in many ways even though most of them are on minimum wage. |
Our aim is to create unrestricted reserves equivalent to six month's expenditure. This is to ensure the charity's activities can continue as a result of any unforeseen financial difficulties. Ar 31 August 2022 the charity had undesignated unrestricted funds in the sum of £70,816 (2021: £91204) which was sufficient under the terms of the above policy. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, |
as deti ned by the Companies Act 2006. |
REFERENCE AND ADMINISTRATIVE INFORMATION |
Borden Village Pre School Limited
Charity registration number |
1139270
06498853
Company registration number |
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4
For the year ended 31 August 2023
Borden Village Pre School Limited
Report of the Trustees Continued
The trustees and officers serving during the year and since the year end were as follows:
Jack V Barbary
Jack V Barbary
R. A. Dale Accounting Limited
30 St Georges Place
Canterbury
Kent
CT1 1UT
Barclays Bank Plc
81 High Street
Sittingbourne
Kent
............................................................................. |
Approved by the Board of Trustees and signed on its behalf by |
2 of 13
5
For the year ended 31 August 2023
Borden Village Pre School Limited
Independent Examiners Report to the Trustees
I report to the trustees on my examination of the accounts of the charitable company for the year ended 31 August 2023. |
Responsibilities and basis of report |
As the charity Trustee, who is also director for the purposes of company law, is 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 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 examiners qualified statement |
I confirm that no other 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 Company as required by section 386 of the 2006 Act; or2. the accounts do not accord with those records; or3. the accounts do not comply with the 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; or4. 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 confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. |
R. A. Dale Accounting Limited
30 St Georges Place
Canterbury
Kent
CT1 1UT
27 August 2024
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6
For the year ended 31 August 2023
Borden Village Pre School Limited
Statement of Financial Activities (including Income and Expenditure Account)
2022
2023
Income and endowments from: |
115,399
107,863
-
115,399
2
25,593
25,264
-
25,593
3
140,992
133,127
-
140,992
(152,898)
(19,311)
(172,209)
(172,826)
4/5
(172,209)
(172,826)
(19,311)
(152,898)
(31,217)
(39,699)
(19,311)
(11,906)
Total funds brought forward |
154,900
115,201
44,385
70,816
Total funds carried forward |
58,910
25,074
83,984
115,201
4 of 13
7
Borden Village Pre School Limited
Statement of Financial Position
2023
2022
84,682
108,272
10
84,682
108,272
1,026
2,978
11
Debtors
4,107
11,728
5,133
14,706
Creditors: amounts falling due within one year |
(5,831)
(7,777)
12
Net current assets
(698)
6,929
Total assets less current liabilities |
83,984
115,201
Net assets
83,984
115,201
13
25,074
44,385
Unrestricted income funds |
13
58,910
70,816
83,984
115,201
For the year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476, |
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
The financial statements were approved and authorised for issue by the Board and signed on its behalf by: |
27 August 2024
5 of 13
8
For the year ended 31 August 2023
Borden Village Pre School Limited
Notes to the Financial Statements
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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 (FRS 102), and the Companies Act 2006. Borden Village Pre School Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). |
The trustee has taken account of the document "Going Concern and Liquidity Risk" Guidance for Directors of UK Companies 2009 issued by the Financial Reporting Council and believes the charitable company is a going concern. This assessment is based upon the funding available, cash in hand and the level of free reserves and income expected to be received from the services provided. |
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. |
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. |
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. |
In the opinion ot the Trustees the charity has only one activity being the operation of the pre school. In addition, all fund |
raising activities and governance matters, with the exception of the Independent Examiner's tees and Trustees' insurance, |
are dealt with by the Trustees and other volunteers at no cost to the charity. Therefore all support costs are considered to |
be in relation to the operation of the pre school. |
The charity is exempt from corporation tax on its charitable activities. |
After the initial set up costs, all assets costing less than £100 are written off at time of purchase. Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their residual value, over their expected useful lives as follows: |
Land and Buildings
Plant and Machinery
Computer Equipment
6 of 13
9
For the year ended 31 August 2023
Borden Village Pre School Limited
Notes to the Financial Statements Continued
Motor Vehicles
Fixtures and Fittings
The charitable company operates a defined contribution pension scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the period in which they are payable. |
Costs of operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term. |
2. Income from donations and legacies |
2022
2023
107,863
115,399
107,863
115,399
3. Income from charitable activities |
2022
2023
School Fees
25,593
25,264
Income from charitable |
activities |
4. Costs of charitable activities by fund type |
2022
2023
152,898
19,311
172,826
172,209
School Fees
5. Costs of charitable activities by activity type |
2022
2023
Activities undertaken directly |
School Fees
172,209
172,826
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10
For the year ended 31 August 2023
Borden Village Pre School Limited
Notes to the Financial Statements Continued
6. Net income/(expenditure) for the year |
This is stated after charging/(crediting): |
2023
2022
Depreciation of owned fixed assets |
24,906
25,476
Staff pension contributions |
2,040
2,059
7. Staff costs and emoluments |
Total staff costs for the year ended 31 August 2023 were: |
2023
2022
118,081
107,503
1,802
1,779
2,040
2,059
121,923
111,341
2023
2022
7
Early years practitioners
8. Trustee remuneration and related party transactions |
During the year the wife of the trustee Jack Barbary was an employee of the charitable company, her gross pay and |
employer NIC and Pension contributions totalled £30388 (2022 - £29259) |
8 of 13
11
For the year ended 31 August 2023
Borden Village Pre School Limited
Notes to the Financial Statements Continued
9. Comparative for the Statement of Financial Activities |
2022
Income and endowments from: |
107,863
-
107,863
25,264
-
25,264
133,127
-
133,127
(153,515)
(19,311)
(172,826)
(172,826)
(19,311)
(153,515)
(39,699)
(19,311)
(20,388)
Total funds brought forward |
154,900
63,696
91,204
Total funds carried forward |
70,816
44,385
115,201
10. Tangible fixed assets |
344,675
6,300
32,378
567
305,430
1,316
197
810
309
-
(1,041)
-
(181)
-
(1,222)
695
33,188
5,456
344,769
305,430
236,403
4,736
11,667
396
219,604
(1,222)
(1,041)
-
(181)
-
Charge for year
24,906
836
3,154
139
20,777
260,087
4,531
14,821
354
240,381
65,049
85,826
341
171
18,367
20,711
925
1,564
84,682
108,272
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12
For the year ended 31 August 2023
Borden Village Pre School Limited
Notes to the Financial Statements Continued
2023
2022
Amounts due within one year: |
Prepayments and accrued income |
1,026
2,978
1,026
2,978
12. Creditors: amounts falling due within one year |
2023
2022
2,680
976
Accruals and deferred income |
3,151
6,801
5,831
7,777
General
70,816
140,992
(152,898)
58,910
General
70,816
140,992
(152,898)
58,910
Unrestricted Funds - Previous year |
General
91,204
133,127
(153,515)
70,816
General
91,204
133,127
(153,515)
70,816
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13
For the year ended 31 August 2023
Borden Village Pre School Limited
Notes to the Financial Statements Continued
Block Paving |
Playground Fund |
2,695
3,291
(596)
Building Development |
Fund |
22,379
41,094
(18,715)
44,385
(19,311)
25,074
Restricted Funds - Previous year |
Block Paving |
Playground Fund |
3,291
3,887
(596)
Building Development |
Fund |
41,094
59,809
(18,715)
63,696
(19,311)
44,385
Purpose of restricted funds |
Building Development Fund
A fund created from funds primarily from Kent County Council to create a new purpose built pre school.
Block Paving Playground Fund
A fund created from funds primarily from George Webb Finn and The Borden Parish Council tocreate a new block paving playground. |
11 of 13
14
For the year ended 31 August 2023
Borden Village Pre School Limited
Notes to the Financial Statements Continued
14. Analysis of net assets between funds |
Net current |
assets / |
(liabilities) |
Net Assets
Unrestricted funds
General
59,608
(698)
58,910
General
Restricted funds
2,695
-
2,695
Block Paving Playground |
Fund |
22,379
-
22,379
Building Development |
Fund |
84,682
(698)
83,984
Net current |
assets / |
(liabilities) |
Net Assets
Unrestricted funds
General
63,887
6,929
70,816
General
Restricted funds
3,291
-
3,291
Block Paving Playground |
Fund |
41,094
-
41,094
Building Development |
Fund |
108,272
6,929
115,201
At 31 August 2023 the company had annual commitments under non-cancellable operating leases as set out below: |
2022
2023
Operating leases which expire: |
-
4,000
16,000
-
-
2,000
-
22,000
12 of 13
15
For the year ended 31 August 2023
Borden Village Pre School Limited
Notes to the Financial Statements Continued
16. Company limited by guarantee |
The company is limited by guarantee, having no share capital and in the terms of the Memorandum of Association the |
member of the company undertakes to contribute to the assets of the company in the event of it being wound up he is a |
member, or, within one year after he ceases to be a member, such amount as may be required not exceeding £10. |
13 of 13