REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31st August 2024 |
for |
Hatch Warren Under Fives Pre-School Ltd |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31st August 2024 |
for |
Hatch Warren Under Fives Pre-School Ltd |
Hatch Warren Under Fives Pre-School Ltd |
Contents of the Financial Statements |
for the Year Ended 31st August 2024 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 12 |
Hatch Warren Under Fives Pre-School Ltd (Registered number: 06990058) |
Report of the Trustees |
for the Year Ended 31st August 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 31st August 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 provide education and care to children primarily under the statutory school age, and encourage parents to work alongside us providing for the needs of their children by: |
a) offering appropriate play, education and care facilities and training courses, providing an opportunity for 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; |
b) encouraging the study of the needs of such children and their families and promoting public interest in and recognition of such needs; |
c) Instigating and adhering to and furthering the aims and objects of the government to fulfil statutory requirements. |
Social investments |
The charity's activities benefit the public by enhancing the development and education of pre-school children. The trustees have considered that this complies with the Charities Commission guidance on public benefit. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
The charity has provided the local community with the resources to further educate pre-school age children in accordance with it's objectives. |
FINANCIAL REVIEW |
This academic year has seen both Preschools back to pre-Covid levels from the start and with waiting lists for the following year. We have also seen a change in the number of 2 year old places required as a result of the additional free 15 hours funding supplied by the government for working parents, which has caused some exciting new challenges at the settings. |
The Preschools made a significant surplus of £15,306 (2023 surplus of £1,442), with Hatch Warren's surplus of £18,502 being offset by deficit for Kempshott of £3,196. The surplus arising predominantly from the supplementary funding received from the government between September and March which resulted in an additional £17,085 which was not allowed for in the budget. This was partially offset by the increase in the minimum wage of 9% which meant an above inflation increase in staff salaries across the board of 7% which has been topped up in 2024/5 to the 9%. |
The new provision for 2 year-olds has required a few adjustments to the Preschools with a new Caterpillar room being added in Hatch Warren for 2024/5 to specifically cater for the 2 year-olds. The surplus from 2023/4 has been used to help furnish and buy new resources both for this room and the current Butterfly room. Both Preschools continue to offer an excellent quality of educational provision, whilst carefully controlling the expenditure in this current challenging environment. The extra income received for our special educational needs children has enabled Kempshott Preschool to purchase some extra equipment for both their outside and inside areas which the children seem to be enjoying. The Trustees fully support the continued investment in staff development and resources. |
The charity has reserves of £139,885 at the balance sheet date and the trustees have reviewed the Reserves Policy and believe this is sufficient to cover 3 months running cost of the organisation, whilst allowing for fluctuations in children and provision for staff redundancies. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, the memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Hatch Warren Under Fives Pre-School Ltd (Registered number: 06990058) |
Report of the Trustees |
for the Year Ended 31st August 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Recruitment and appointment of new trustees |
Trustees are elected from the members, being of good standing within the local community. Between 2 and 10 members are elected with no more than 3 co-opted members, to form a management committee. |
Organisational structure |
A committee of directors and charity trustees are responsible for the overall management and control of the pre-school. The committee comprises three officers, between 2 and 10 elected members and no more than 3 co-opted members. The committee is required to meet at least three times a year. No member may serve more than 6 years on the committee. |
The day to day running of the pre-school is undertaken by the managers and deputies who are overseen by the Preschool Operations Manager who reports to the trustees. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Bethany Luckett | Chair |
Michelle Beverley | Secretary - appointed 4th December 2023 |
Jessica Roach | Treasurer |
Nikole Facey | Safeguarding Officer |
Katie Oliver | - resigned 5th October 2023 |
Sam Haydn Bowen | - resigned 4th December 2023 |
Layla Hallet | - appointed 1st January 2024 |
Chloe Buckingham | - appointed 1st January 2024 |
Laura Newhouse |
Helen Eastick |
Laura Murphy |
Kirsty Anthony |
Independent Examiner |
Wheeler & Co Ltd |
Chartered Accountants |
The Shrubbery |
14 Church Street |
Whitchurch |
Hampshire |
RG28 7AB |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Hatch Warren Under Fives Pre-School Ltd |
Independent examiner's report to the trustees of Hatch Warren Under Fives Pre-School Ltd ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st August 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. |
Kevin Wheeler FCA |
Wheeler & Co Ltd |
Chartered Accountants |
The Shrubbery |
14 Church Street |
Whitchurch |
Hampshire |
RG28 7AB |
27th November 2024 |
Hatch Warren Under Fives Pre-School Ltd |
Statement of Financial Activities |
for the Year Ended 31st August 2024 |
31.8.24 | 31.8.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 5 |
Other trading activities | 3 |
Investment income | 4 |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities | 6 |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 124,579 |
Hatch Warren Under Fives Pre-School Ltd (Registered number: 06990058) |
Balance Sheet |
31st August 2024 |
31.8.24 | 31.8.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
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 |
PROVISIONS FOR LIABILITIES | 13 | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 14 |
Unrestricted funds | 124,579 |
TOTAL FUNDS | 124,579 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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. |
Hatch Warren Under Fives Pre-School Ltd (Registered number: 06990058) |
Balance Sheet - continued |
31st August 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 |
Hatch Warren Under Fives Pre-School Ltd |
Notes to the Financial Statements |
for the Year Ended 31st August 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. |
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. |
Raising funds |
Costs of generating funds comprise the costs of generating voluntary income and the costs of trading for fundraising purposes. |
Charitable activities |
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services to its beneficiaries. It includes both costs that can be directly attributed to such activities and those costs of an indirect nature necessary to support them. |
Governance costs |
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include independent examiner fees. |
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. |
There are no restricted funds. |
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. |
Hatch Warren Under Fives Pre-School Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2024 |
2. | DONATIONS AND LEGACIES |
31.8.24 | 31.8.23 |
£ | £ |
Donations |
3. | OTHER TRADING ACTIVITIES |
31.8.24 | 31.8.23 |
£ | £ |
Fundraising events |
Sales income |
4. | INVESTMENT INCOME |
31.8.24 | 31.8.23 |
£ | £ |
Deposit account interest |
5. | INCOME FROM CHARITABLE ACTIVITIES |
31.8.24 | 31.8.23 |
Development |
and |
education |
of |
pre-school | Total |
children | activities |
£ | £ |
Grants | 267,829 | 208,234 |
Fee income - Playgroup | 27,376 | 50,038 |
295,205 | 258,272 |
Grants received, included in the above, are as follows: |
31.8.24 | 31.8.23 |
£ | £ |
HCC - Early Years Education funding | 261,290 | 180,727 |
HCC - Special Education Needs funding | - | 6,303 |
HCC - 2 Year Old funding | 146 | 14,648 |
Apprentice funding | - | 2,000 |
HCC - IDACI/EYPP | 6,393 | 4,556 |
267,829 | 208,234 |
Hatch Warren Under Fives Pre-School Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2024 |
6. | CHARITABLE ACTIVITIES COSTS |
Direct | Support |
Costs (see | costs (see |
note 7) | note 8) | Totals |
£ | £ | £ |
Development and education of pre-school children |
285,081 |
723 |
285,804 |
7. | DIRECT COSTS OF CHARITABLE ACTIVITIES |
31.8.24 | 31.8.23 |
£ | £ |
Staff costs | 224,127 | 196,284 |
Trustees' expenses | 645 | 343 |
Rent and services | 37,654 | 35,127 |
Insurance | 1,936 | 1,780 |
Telephone | 586 | 536 |
Postage and stationery | 554 | 442 |
Website costs | 631 | 587 |
Sundries | 430 | 361 |
Play materials and refreshment | 4,985 | 3,967 |
Toys & equipment | 1,443 | 4,017 |
Staff training | 939 | 2,627 |
Staff uniforms | 650 | 836 |
DBS charges | 350 | 447 |
Premises expenses | 2,485 | 1,056 |
Software costs | 289 | 809 |
IT costs | 500 | 191 |
Operating licences | 748 | 606 |
SEN resources | 23 | 6,354 |
IDACI/EYPP costs | 6,106 | 4,541 |
285,081 | 260,911 |
8. | SUPPORT COSTS |
Governance |
Finance | costs | Totals |
£ | £ | £ |
Development and education of pre-school children |
333 |
390 |
723 |
Hatch Warren Under Fives Pre-School Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2024 |
8. | SUPPORT COSTS - continued |
Support costs, included in the above, are as follows: |
Finance |
31.8.24 | 31.8.23 |
Development |
and |
education |
of |
pre-school | Total |
children | activities |
£ | £ |
Bank charges | 333 | 349 |
Governance costs |
31.8.24 | 31.8.23 |
Development |
and |
education |
of |
pre-school | Total |
children | activities |
£ | £ |
Accountancy fees | 390 | 390 |
9. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31st August 2024 nor for the year ended 31st August 2023. |
Trustees' expenses |
31.8.24 | 31.8.23 |
£ | £ |
Trustees' expenses |
10. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
31.8.24 | 31.8.23 |
Childcare assistants |
Hatch Warren Under Fives Pre-School Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2024 |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.24 | 31.8.23 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.24 | 31.8.23 |
£ | £ |
Accruals and deferred income |
13. | PROVISIONS FOR LIABILITIES |
31.8.24 | 31.8.23 |
£ | £ |
Provisions |
14. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.9.23 | in funds | 31.8.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 124,579 | 15,306 | 139,885 |
TOTAL FUNDS | 15,306 | 139,885 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 301,332 | (286,026 | ) | 15,306 |
TOTAL FUNDS | ( |
) | 15,306 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.9.22 | in funds | 31.8.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 123,137 | 1,442 | 124,579 |
TOTAL FUNDS | 123,137 | 1,442 | 124,579 |
Hatch Warren Under Fives Pre-School Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2024 |
14. | 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 | 264,290 | (262,848 | ) | 1,442 |
TOTAL FUNDS | 264,290 | (262,848 | ) | 1,442 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.9.22 | in funds | 31.8.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 123,137 | 16,748 | 139,885 |
TOTAL FUNDS | 123,137 | 16,748 | 139,885 |
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 | 565,622 | (548,874 | ) | 16,748 |
TOTAL FUNDS | 565,622 | (548,874 | ) | 16,748 |
15. | RELATED PARTY DISCLOSURES |