Niton Pre-School - Charities report

REGISTERED COMPANY NUMBER: 04838026 (England and Wales)

REGISTERED CHARITY NUMBER: 1100496

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

NITON PRE-SCHOOL

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

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 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 governing document of the charity is the Memorandum of Articles of Association dated 11 July 2003.

The charity offers appropriate play, education and care facilities and training courses, together with the right of parents to take responsibility for, and become involved in, activities such as groups.

The aim of the charity is to ensure that children from all races, cultures, religion and means of ability are seeing the benefit of the aims and objectives set by the Pre-school Learning Alliance.

ACHIEVEMENT AND PERFORMANCE

Review of the year

There was a successful transition of children through to both Niton & Brighstone Primary Schools as we continue to work closely with staff in the Early Years.

We also continue to work closely with other professionalswho visit the setting regularly. Jayne Hill sits on both the IOWSCP and The IOW Forum.

In December we joined our communities for Christmas celebrations and exhibited at the Christmas Tree Festival.

We had the joy of 2 senior staff member weddings in December and April.

Rosanna our Manager at Brighstone completed her degree in Early childhood studies.

We continued to maintain both buildings and the staff remained dedicated to providing an outstanding provision.

FINANCIAL REVIEW

Financial position

Total incoming resources for the year amounted to £400,531 (2023: £351,670) and resources expended for the year amounted to £429,596 (2023: £306,561). There was a deficit for the year of £29,065 compared to a surplus of £45,190 in the previous year.

Reserves policy

The trustees maintain a level of reserves so that the charity has sufficient funds to support any short term cash deficits, meet unanticipated expenditure and to cover long term maintenance costs.

At the year end the charity holds £286,073 in unrestricted reserves, and of this reserves not invested in fixed assets amounts to £237,731.

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.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

04838026 (England and Wales)

Registered Charity number

1100496

Registered office

School Lane

Niton

Isle of Wight

PO38 2BP

Trustees

Ms J Hill Chair/Preschool manager

S J Chatfield

K D Gow

Mrs K Wyeth

Company Secretary

Mrs K Wyeth

Independent Examiner

Garbetts (IOW) Limited

Exchange House

St Cross Lane

Newport

Isle of Wight

PO30 5BZ

Approved by order of the board of trustees on 3 April 2025 and signed on its behalf by:

Ms J Hill - Trustee

Independent examiner's report to the trustees of Niton Pre-School ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 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 Association of Chartered Certified Accountants, 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.

Mark Paxton

Garbetts (IOW) Limited

Exchange House

St Cross Lane

Newport

Isle of Wight

PO30 5BZ

Date: .............................................

2024

2023

Unrestricted

Restricted

Total

fund

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

-

624

Charitable activities

Childcare services

396,600

-

396,600

348,975

Fundraising

3

408

-

408

257

Investment income

4

3,523

-

3,523

1,814

Total

400,531

-

400,531

351,670

EXPENDITURE ON

Charitable activities

Childcare services

429,531

-

429,531

306,561

Other

65

-

65

-

Total

429,596

-

429,596

306,561

NET INCOME/(EXPENDITURE)

(29,065

)

-

(29,065

)

45,109

Transfers between funds

13

500

(500

)

-

Net movement in funds

(28,565

)

(500

)

(29,065

)

45,109

RECONCILIATION OF FUNDS

Total funds brought forward

314,638

500

315,138

270,029

TOTAL FUNDS CARRIED FORWARD

286,073

-

286,073

315,138

2024

2023

Unrestricted

Restricted

Total

fund

funds

Notes

£

FIXED ASSETS

Tangible assets

9

48,342

-

48,342

41,211

CURRENT ASSETS

Debtors

10

8,564

-

8,564

2,748

Cash at bank

239,655

-

239,655

278,258

248,219

-

248,219

281,006

CREDITORS

Amounts falling due within one year

11

(10,488

)

-

(10,488

)

(7,079

)

NET CURRENT ASSETS

237,731

-

237,731

273,927

TOTAL ASSETS LESS CURRENT LIABILITIES

286,073

-

286,073

315,138

NET ASSETS

286,073

-

286,073

315,138

FUNDS

13

Unrestricted funds

286,073

314,638

Restricted funds

-

500

TOTAL FUNDS

286,073

315,138

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

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 3 April 2025 and were signed on its behalf by:

J Hill - Trustee

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

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.

2.	DONATIONS AND LEGACIES

2024

2023

£

Donations

-

624

3.	FUNDRAISING

2024

2023

£

Fundraising

408

257

4.	INVESTMENT INCOME

2024

2023

£

Bank interest received

3,523

1,814

5.	NET INCOME/(EXPENDITURE)

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

2024

2023

£

Independent examiner's fees

2,400

Depreciation - owned assets

3,676

3,510

Deficit on disposal of fixed assets

-

1,307

6.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.

7.	STAFF COSTS

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

2024

2023

Full-time equivalent

17

15

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

8.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

624

-

624

Charitable activities

Childcare services

348,475

500

348,975

Fundraising

257

-

257

Investment income

1,814

-

1,814

Total

351,170

500

351,670

EXPENDITURE ON

Charitable activities

Childcare services

306,561

-

306,561

NET INCOME

44,609

500

45,109

RECONCILIATION OF FUNDS

Total funds brought forward

270,029

-

270,029

TOTAL FUNDS CARRIED FORWARD

314,638

500

315,138

9.	TANGIBLE FIXED ASSETS

Buildings

Plant and

& structures

machinery

Totals

£

COST

At 1 September 2023

30,679

25,778

56,457

Additions

6,633

4,174

10,807

At 31 August 2024

37,312

29,952

67,264

DEPRECIATION

At 1 September 2023

-

15,246

Charge for year

-

3,676

At 31 August 2024

-

18,922

NET BOOK VALUE

At 31 August 2024

37,312

11,030

48,342

At 31 August 2023

30,679

10,532

41,211

10.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

5,726

-

Other debtors

1,600

Prepayments

1,238

1,148

8,564

2,748

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Social security and other taxes

2,744

1,766

Other creditors

4

Accrued expenses

7,740

5,309

10,488

7,079

12.	LEASING AGREEMENTS

The Charity is committed to paying rent, calculated at 7% of the income of Brighstone Pre-School, together with a fair and reasonable proportion of utilities costs, on an ongoing 5 year lease.

13.	MOVEMENT IN FUNDS

Net

Transfers

movement

between

At

At 1.9.23

in funds

funds

31.8.24

£

Unrestricted funds

General fund

314,638

(29,065

)

500

286,073

Restricted funds

Wight Aid Foundation

500

-

(500

)

-

TOTAL FUNDS

315,138

(29,065

)

-

286,073

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

400,531

(429,596

)

(29,065

)

TOTAL FUNDS

400,531

(429,596

)

(29,065

)

Comparatives for movement in funds

Net

movement

At

At 1.9.22

in funds

31.8.23

£

Unrestricted funds

General fund

270,029

44,609

314,638

Restricted funds

Wight Aid Foundation

-

500

TOTAL FUNDS

270,029

45,109

315,138

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

351,170

(306,561

)

44,609

Restricted funds

Wight Aid Foundation

500

-

500

TOTAL FUNDS

351,670

(306,561

)

45,109

14.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2024.