REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
ST. CLARES PRE SCHOOL |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
ST. CLARES PRE SCHOOL |
ST. CLARES PRE SCHOOL |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
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 | 14 |
ST. CLARES PRE SCHOOL (REGISTERED NUMBER: 07899199) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
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 March 2024. 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 |
The objects of the charity are to enhance the development and education of children primarily under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups and by; |
- Offering appropriate play, education and care facilities and training courses, together with the right of parents to take responsibility for and to become involved in the activities of such groups, ensuring that such groups offer opportunities for all children whatever their race, culture, religion, means or ability. |
- Encouraging the study of the needs of such children and their families and promoting public interest in and recognition of such needs. |
- Instigating and adhering to and furthering the aims and objects of the Pre-School Learning Alliance. |
Public benefit |
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. The trustees refer to public benefit throughout this report. |
ST. CLARES PRE SCHOOL (REGISTERED NUMBER: 07899199) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
At the start of September 2023 Preschool numbers were lower than anticipated but these have increased steadily over this academic year, and we end the term in March 24 being busy and with healthy numbers and children on our waiting list. |
The Nursery has continued to grow and has seen a consistent demand for the younger children. This year the Nursery has seen the highest number of children attending since operating as Nursery. The Nursery has had some changes internally to aid our transition to a Nursery. We have purchased new furniture, divided areas and are graduating to a more natural and neutral feel to the environment. There have been some adaptions to the outside areas also and a new gate has been fitted to aid security. We continue to identify areas for improvement and adaptions to meet the needs of the children. |
We continue to welcome and support children with all different levels of development and care needs, including children with English as an additional language. We employ 3 staff members for the purpose of 1:1 care for children who need a very high level of support which means these places are very limited and we often have a waiting list for this level of care. We continue to provide care for a high number of children with additional needs and operate with around 35% of children needing additional support. We continue to look at and develop ways we can increase this each year, either through staff levels, staff training and looking at our environment and developing new ideas and practises. Staff supporting children with specific medical and physical needs will and have been trained to enable them to meet these specific needs of the children. |
Our staffing levels dipped for a short period of time and because of the difficulties in recruitment for the industry. We have since employed 2 new apprentices at level 3 who are on an 18-month apprenticeship. We have been lucky to have benefited from a qualified and experienced volunteer this year and further supported by a university student, studying childcare on a placement. |
Staff training has been a priority this year, two have completed the level 3 childcare refresher, all staff have completed the paediatric first aid, two staff completed safeguarding infants, two completed safeguarding for disabled children, two staff completed safe sleep and all staff completed target setting course. Staff personal development continues to be encouraged and supported, and financed where possible. |
We continue to strengthen links within our local community. We participated in a local community event offering a range of activities and give aways on our stall to many local families and other businesses within our community. We performed our annual nativity for parents and families, visited our local library for Christmas carols and went on the Christmas bus. We have also continued to build our relationship and existing links with our local care home visiting more frequently and participating jointly in some of their activities and events. We are frequently invited to visit them for a milkshake and a game of skittles or to have fun in their garden with them. |
FINANCIAL REVIEW |
Financial position |
The pre-school remains in a comfortable financial situation, but we will need to monitor this closely and the impact of the rising living wage, the need for staff to received higher wages so that we can retain our staff and the general increase to the cost of utilities and resources. We have seen a significant increase in the cost of living which has also impacted us in terms of weekly shopping bills, electricity bills and insurance premiums. The committee will continue to monitor and review our financial position as well as reviewing our fees each term. |
Reserves policy |
As of the 31st March 2024 our reserve account hold's £229,257.26 the reserve account funds are held for our contingency plan for increased or unexpected running cost that may impact the business. |
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 charitable company was incorporated on 5th January 2012 and is limited by guarantee and registered as a charity. It is Governed by its Memorandum and Articles of Association. |
ST. CLARES PRE SCHOOL (REGISTERED NUMBER: 07899199) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Recruitment and appointment of new trustees |
We inform our parents in the first instance when we need to recruit any new trustees. Interested parties need to apply in writing and attend an interview from which the successful applicant will be appointed. In the event of no parent/carer making an application we will advertise this post locally and encourage other community services to apply, successful applicants will be interviewed an appointment will be made from one of the applicants. The successful applicant will be subject to a satisfactory enhanced DBS check. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
S F Mackie FCA |
Morris Crocker |
Chartered Accountants |
Station House |
North Street |
Havant |
Hampshire |
PO9 1QU |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
ST. CLARES PRE SCHOOL |
Independent examiner's report to the trustees of St. Clares Pre School ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. |
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 |
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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: |
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. |
S F Mackie FCA |
Morris Crocker |
Chartered Accountants |
Station House |
North Street |
Havant |
Hampshire |
PO9 1QU |
27 September 2024 |
ST. CLARES PRE SCHOOL |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
FOR THE YEAR ENDED 31 MARCH 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Charitable activities | 3 |
Investment income | 2 |
Total |
EXPENDITURE ON |
Charitable activities | 4 |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
Transfers between funds | 16 | (280 | ) | 280 | - | - |
Net movement in funds | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 428,321 |
ST. CLARES PRE SCHOOL (REGISTERED NUMBER: 07899199) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 11 |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 12 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 13 | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 16 |
Unrestricted funds | 427,621 |
Restricted funds | 700 |
TOTAL FUNDS | 428,321 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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. |
ST. CLARES PRE SCHOOL (REGISTERED NUMBER: 07899199) |
BALANCE SHEET - continued |
31 MARCH 2024 |
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 |
ST. CLARES PRE SCHOOL |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
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. |
The trustees consider that there are no material uncertainties regarding the charity's ability to continue as a going concern. |
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. |
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. |
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. |
Long leasehold | - |
Fixtures and fittings | - |
Individual fixed assets are capitalised at 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. |
Financial instruments |
The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable investments in stocks and shares. The measurement basis used for these instruments is detailed below. |
ST. CLARES PRE SCHOOL |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | ACCOUNTING POLICIES - continued |
Financial instruments |
Debtors and cash at bank |
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand included cash held on deposit or in a current account. |
Creditors and provisions |
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. |
2. | INVESTMENT INCOME |
2024 | 2023 |
£ | £ |
Deposit account interest |
All investment income is derived from assets held in the United Kingdom. |
3. | INCOME FROM CHARITABLE ACTIVITIES |
2024 | 2023 |
Activity | £ | £ |
Parental funding | Development and education | 109,349 | 71,830 |
Grants | Development and education | 304,679 | 305,689 |
Grants received, included in the above, are as follows: |
2024 | 2023 |
£ | £ |
Hampshire County Council | 304,679 | 305,689 |
4. | CHARITABLE ACTIVITIES COSTS |
Direct | Support |
Costs (see | costs (see |
note 5) | note 6) | Totals |
£ | £ | £ |
Development and education | 363,373 | 25,119 | 388,492 |
ST. CLARES PRE SCHOOL |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
5. | DIRECT COSTS OF CHARITABLE ACTIVITIES |
2024 | 2023 |
£ | £ |
Staff costs | 296,458 | 280,683 |
Rent, rates and water | 27,473 | 26,623 |
Insurance | 3,112 | 2,842 |
Light and heat | 4,387 | 3,871 |
Telephone and internet | 661 | 1,550 |
Postage and stationery | 363 | 477 |
Advertising | 680 | - |
Sundries and pre school supplies | 20,063 | 26,884 |
Children's play equipment and craft materials | 6,312 | 8,630 |
Subscriptions | 3,262 | 732 |
Interest payable and similar charges | 602 | 796 |
363,373 | 353,088 |
6. | SUPPORT COSTS |
Governance |
Management | costs | Totals |
£ | £ | £ |
Development and education | 20,336 | 4,783 | 25,119 |
Support costs, included in the above, are as follows: |
Management |
2024 | 2023 |
Development |
and | Total |
education | activities |
£ | £ |
Wages | 12,038 | 11,031 |
Bank charges | 605 | 574 |
Payroll | 1,615 | 1,510 |
Depreciation | 6,078 | 6,078 |
20,336 | 19,193 |
Governance costs |
2024 | 2023 |
Development |
and | Total |
education | activities |
£ | £ |
Legal and professional fees | 2,749 | 4,449 |
Accountancy fees | 2,034 | 1,971 |
4,783 | 6,420 |
ST. CLARES PRE SCHOOL |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
Independent examiner's fee | 1,690 | 1,608 |
8. | TRUSTEES' REMUNERATION AND BENEFITS |
During the year Gail Young-Evans, who became a trustee with effect from 5 January 2012, received a salary totalling £25,933 (2023: £24,424 ) for her role as the Pre School Manager.The Articles of the Charity allow this at section 6. |
Apart from the above, there was no trustee's remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
Trustees' expenses |
During the year no trustees (2023: None) were reimbursed out of pocket expenses. |
9. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Charitable activities |
10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Charitable activities |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 428,610 | - |
TOTAL FUNDS CARRIED FORWARD | 427,621 | 700 | 428,321 |
ST. CLARES PRE SCHOOL |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
11. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | and |
leasehold | fittings | Totals |
£ | £ | £ |
COST |
At 1 April 2023 and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts (see note 14) |
Accruals and deferred income |
13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans (see note 14) |
14. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year on demand: |
Bank loans |
Amounts falling between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
ST. CLARES PRE SCHOOL |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
15. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
£ | £ | £ | £ |
Fixed assets | 242,388 | - | 242,388 | 248,466 |
Current assets |
Current liabilities | ( |
) | ( |
) | ( |
) |
Long term liabilities | (11,097 | ) | - | (11,097 | ) | (19,013 | ) |
456,974 | - | 456,974 | 428,321 |
16. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.4.23 | in funds | funds | 31.3.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 427,621 | 29,633 | (280 | ) | 456,974 |
Restricted funds |
HCC - Funding for struggling families | 700 | (980 | ) | 280 | - |
TOTAL FUNDS | 28,653 | 456,974 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 417,100 | (387,467 | ) | 29,633 |
Restricted funds |
HCC - Funding for struggling families | 45 | (1,025 | ) | (980 | ) |
TOTAL FUNDS | ( |
) | 28,653 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 428,610 | (989 | ) | 427,621 |
Restricted funds |
HCC - Funding for struggling families | - | 700 | 700 |
TOTAL FUNDS | 428,610 | (289 | ) | 428,321 |
ST. CLARES PRE SCHOOL |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
16. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 376,432 | (377,421 | ) | (989 | ) |
Restricted funds |
HCC - Funding for struggling families | 1,980 | (1,280 | ) | 700 |
TOTAL FUNDS | 378,412 | (378,701 | ) | (289 | ) |
HCC Funding for Struggling Families - represents monies received to allow the school to provide specific support to families who may be struggling with costs. |
17. | RELATED PARTY DISCLOSURES |
18. | ULTIMATE CONTROLLING PARTY |
The charitable company is not under the control of another entity or any one individual. |