REGISTERED COMPANY NUMBER: 07437961 (England and Wales)

REGISTERED CHARITY NUMBER: 1139828

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 July 2024

for

The Chesterfords Community Preschool

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

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 July 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

To enhance the development and education of children primarily under statutory school age by encouraging parents, grandparents and carers 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, grandparents and carers 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; and instigating and adhering to and furthering the aims and objects of the Pre-School Learning Alliance.

Activities

The Chesterfords Community Preschool provided throughout the year and continues to provide an affordable and accessible high quality pre-school for children aged two to five in a safe and supportive environment, encouraging the development of each child so that they may become secure and confident outside their home environment.

Public benefit

The trustees have considered the public benefit provided by The Chesterfords Community Preschool, having regard to the Charity Commission's guidance on public benefit.

ACHIEVEMENT AND PERFORMANCE

We started the year with positive news of grants awarded in August 2023, to fund the installation of the much needed and awaited nature space shade. With the cost of living crisis impacting our day-to-day running costs, as a Committee, we set ourselves a fundraising target to avoid another deficit and try to rebuild our reserves after a difficult couple of years.

We made a strong start with facepainting and games at the village Steam Up in September, supplemented by a kind donation from the Steam Up Committee. Our annual Christmas tree sale was expanded this year into an "extravaganza" event, with stalls by local businesses and a pop-up cafe that was a great success.

The decision to close the Preschool on Fridays in the Autumn term was kept under review, and having secured an additional member of staff, we were able to reopen our doors on Fridays in the Spring term. For the second year in a row, a football fundraising match was organised in April which provided some great entertainment! We were successful with further grant applications, from the Jane Bradbury Educational Foundation for our educational resources, and the Tudwick Foundation to help us with the rising cost of living.

In July we celebrated 30 years of our wonderful Preschool with a family fun day, which was attended by many past and present families, and really brought together the village and surrounding communities. We continued the "Rising 5 Wednesdays" sessions, including Spanish for those children beginning primary school the following September.

FINANCIAL REVIEW

Principal funding sources

The principal funding sources are Free Early Educational Entitlement funding from Essex and Cambridgeshire Local Authorities which are available to fund the first fifteen hours of pre-school education beginning in the term immediately following a child's third birthday and fees charged for children for hours attended in excess of those covered by entitlement funding and for children who are younger than the age range covered by grant funding.

Reserves policy

The policy is to maintain typically at least three months' running costs.

In addition, the Pre-School Learning Alliance recommends the Pre-School needs to keep funds for staff redundancy payments as a contingency for the unlikely event of curtailment of the Pre-School's activities. The Chesterfords Community Preschool holds a precautionary earmarked fund (within unrestricted funds) for staff redundancy payments.

The Management Committee fully expects the Preschool to continue to operate as it does now for the foreseeable future and so have prepared these financial statements on a going concern basis.

Liquid funds

The charitable company maintains its reserves in cash to manage fluctuations in funds and to maintain flexibility in case of unforeseen events.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is a company limited by guarantee without share capital and is governed according to its memorandum of association dated 1 November 2010 by a management committee which has overall control and responsibility for policy and major decisions.

Recruitment and appointment of members of the Management Committee

Members of the Management Committee are elected annually by a vote of members.

Risk management

The members of the Management Committee have a duty to identify and review the risks to which the charitable company is exposed and ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07437961 (England and Wales)

Registered Charity number

1139828

Registered office

9 Great Chesterford Court

London Road

Great Chesterford

Essex

CB10 1PF

Trustees

Ms E Halksworth (resigned 14.11.24)

Mrs J Rodriguez (resigned 25.1.24)

Mrs A Dixon

Mr E G Palferman (resigned 14.11.24)

Mrs R A Al-Hassani

Mrs P Britton

Miss C Higgins

Mrs J A Thompson

Mrs M Gibson (appointed 16.10.24, resigned 21.12.24)

Mrs D S Sherwen (appointed 16.10.24, resigned 12.12.24)

Company Secretary

Mrs P Britton

Independent Examiner

Lanham and Company Limited

Chartered Accountants

9 Great Chesterford Court

London Road

Great Chesterford

Essex

CB10 1PF

Principal address

Chesterfords Community Centre

Newmarket Road

Great Chesterford

Essex CB10 1NA

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 4 April 2025 and signed on its behalf by:

Mrs A Dixon - Trustee

Independent examiner's report to the trustees of The Chesterfords Community Preschool ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 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

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.

Andrew Ireland FCCA

Lanham and Company Limited

Chartered Accountants

9 Great Chesterford Court

London Road

Great Chesterford

Essex

CB10 1PF

4 April 2025

31.7.24

31.7.23

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

82,295

-

82,295

64,800

Charitable activities

5

Charitable activities

46,973

-

46,973

43,206

Other trading activities

3

12,569

-

12,569

13,341

Investment income

4

965

-

965

184

Total

142,802

-

142,802

121,531

EXPENDITURE ON

Raising funds

6

3,737

-

3,737

3,421

Charitable activities

7

Charitable activities

129,140

-

129,140

125,471

Total

132,877

-

132,877

128,892

NET INCOME/(EXPENDITURE)

9,925

-

9,925

(7,361

)

RECONCILIATION OF FUNDS

Total funds brought forward

28,626

-

28,626

35,987

TOTAL FUNDS CARRIED FORWARD

38,551

-

38,551

28,626

31.7.24

31.7.23

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

12

1,036

-

1,036

1,165

CURRENT ASSETS

Stocks

13

11

-

11

-

Debtors

14

(38

)

-

(38

)

955

Cash at bank and in hand

45,896

-

45,896

34,364

45,869

-

45,869

35,319

CREDITORS

Amounts falling due within one year

15

(8,354

)

-

(8,354

)

(7,858

)

NET CURRENT ASSETS

37,515

-

37,515

27,461

TOTAL ASSETS LESS CURRENT LIABILITIES

38,551

-

38,551

28,626

NET ASSETS

38,551

-

38,551

28,626

FUNDS

16

Unrestricted funds

38,551

28,626

TOTAL FUNDS

38,551

28,626

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 4 April 2025 and were signed on its behalf by:

Mrs A Dixon - 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.

Going Concern

The charitable company is fully expected to continue to operate at a similar level for the foreseeable future and as a result the financial statements are prepared on a going concern basis.

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. Revenue is measured at the fair value of the consideration received or receivable.

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.

Plant and machinery

-

10% on cost

Tangible fixed assets costing more than £1,000 are capitalised and included at cost including any incidental expenses of acquisition.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charitable company is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds are available for use at the discretion of the Management Committee in furtherance of the general objectives of the charitable company. Designated funds are unrestricted funds that the Management Committee have earmarked for a particular purpose.

Restricted funds are subject to restrictions on their expenditure through specific conditions of grants received of when funds are raised for particular 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.

Financial instruments

Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Trade debtors and creditors are classed as basic financial instruments and are initially measured at transaction price.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and short-term deposits with an original maturity date of three months or less.

2.	DONATIONS AND LEGACIES

31.7.24

31.7.23

£

£

Donations

126

-

Funded early educational entitlement funding

82,169

64,800

82,295

64,800

3.	OTHER TRADING ACTIVITIES

31.7.24

31.7.23

£

£

Fundraising events

12,569

13,341

4.	INVESTMENT INCOME

31.7.24

31.7.23

£

£

Deposit account interest

965

184

5.	INCOME FROM CHARITABLE ACTIVITIES

31.7.24

31.7.23

Charitable

Total

activities

activities

£

£

Fees

46,973

43,206

6.	RAISING FUNDS

Other trading activities

31.7.24

31.7.23

£

£

Fundraising activity costs

3,413

3,265

Event costs

324

156

3,737

3,421

7.	CHARITABLE ACTIVITIES COSTS

Direct

Support

Costs

costs

Totals

£

£

£

Charitable activities

127,310

1,830

129,140

8.	NET INCOME/(EXPENDITURE)

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

31.7.24

31.7.23

£

£

Depreciation - owned assets

129

1,039

The independent examiners remuneration amounts to an independent examination fee of £370 (2023: £350) and fees for the assistance with the accounts preparation, completion of the corporation tax return CT600, and company secretarial of £840 (2023: £1,025).

9.	TRUSTEES' REMUNERATION AND BENEFITS

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

Trustees' expenses

During the year 2 trustees (2023: four trustees) received reimbursement totalling £550 (2023: £441) for expenses incurred.

10.	STAFF COSTS

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

31.7.24

31.7.23

Part time employees

9

9

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

11.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

64,800

-

64,800

Charitable activities

Charitable activities

43,206

-

43,206

Other trading activities

13,341

-

13,341

Investment income

184

-

184

Total

121,531

-

121,531

EXPENDITURE ON

Raising funds

3,421

-

3,421

Charitable activities

Charitable activities

124,562

909

125,471

Total

127,983

909

128,892

NET INCOME/(EXPENDITURE)

(6,452

)

(909

)

(7,361

)

RECONCILIATION OF FUNDS

Total funds brought forward

35,078

909

35,987

TOTAL FUNDS CARRIED FORWARD

28,626

-

28,626

12.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 August 2023 and 31 July 2024

10,379

DEPRECIATION

At 1 August 2023

9,214

Charge for year

129

At 31 July 2024

9,343

NET BOOK VALUE

At 31 July 2024

1,036

At 31 July 2023

1,165

13.

STOCKS

31.7.24

31.7.23

£

£

Finished goods

11

-

14.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

£

Trade debtors

(38

)

614

Other debtors

-

341

(38

)

955

15.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

£

Social security and other taxes

123

193

Other creditors

378

-

Accrued expenses

7,853

7,665

8,354

7,858

16.	MOVEMENT IN FUNDS

Net

movement

At

At 1.8.23

in funds

31.7.24

£

£

£

Unrestricted funds

General fund

28,626

9,925

38,551

TOTAL FUNDS

28,626

9,925

38,551

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

142,802

(132,877

)

9,925

TOTAL FUNDS

142,802

(132,877

)

9,925

Comparatives for movement in funds

Net

movement

At

At 1.8.22

in funds

31.7.23

£

£

£

Unrestricted funds

General fund

35,078

(6,452

)

28,626

Restricted funds

Allotment fund

909

(909

)

-

TOTAL FUNDS

35,987

(7,361

)

28,626

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

121,531

(127,983

)

(6,452

)

Restricted funds

Allotment fund

-

(909

)

(909

)

TOTAL FUNDS

121,531

(128,892

)

(7,361

)

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.8.22

in funds

31.7.24

£

£

£

Unrestricted funds

General fund

35,078

3,473

38,551

Restricted funds

Allotment fund

909

(909

)

-

TOTAL FUNDS

35,987

2,564

38,551

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

264,333

(260,860

)

3,473

Restricted funds

Allotment fund

-

(909

)

(909

)

TOTAL FUNDS

264,333

(261,769

)

2,564

Purposes of General Funds

The general fund represents the free funds of the charity which are not designated for particular purposes.

Restricted funds:

Allotment fund

This fund was established to account for the development of an outdoor classroom space for play, exploring nature and learning for children and families.

The majority of the grants received to this fund have been spent on capital items, the balance of the fund will be reduced as the assets are depreciated across the next five years.

17.	RELATED PARTY DISCLOSURES

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

18.	LIABILITY OF MEMBERS

The charity is limited by guarantee. In the event of the charity being wound up, the liability of the members, whilst he or she remains a member of within one year after they cease to be a member, is limited to £1 each.