LOW FELL COMMUNITY PRE-SCHOOL C.I.C.

Company limited by guarantee

Company Registration Number:
12219566 (England and Wales)

Unaudited statutory accounts for the year ended 31 August 2024

Period of accounts

Start date: 1 September 2023

End date: 31 August 2024

LOW FELL COMMUNITY PRE-SCHOOL C.I.C.

Contents of the Financial Statements

for the Period Ended 31 August 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

LOW FELL COMMUNITY PRE-SCHOOL C.I.C.

Directors' report period ended 31 August 2024

The directors present their report with the financial statements of the company for the period ended 31 August 2024

Directors

The directors shown below have held office during the whole of the period from
1 September 2023 to 31 August 2024

D C Alston
Mrs T J Brown
Mrs L A Havery
Mrs L F Welsh


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
14 May 2025

And signed on behalf of the board by:
Name: D C Alston
Status: Director

LOW FELL COMMUNITY PRE-SCHOOL C.I.C.

Profit And Loss Account

for the Period Ended 31 August 2024

2024 2023


£

£
Turnover: 57,157 50,020
Cost of sales: ( 4,729 ) ( 4,376 )
Gross profit(or loss): 52,428 45,644
Administrative expenses: ( 173,074 ) ( 159,547 )
Other operating income: 194,860 94,464
Operating profit(or loss): 74,214 (19,439)
Profit(or loss) before tax: 74,214 (19,439)
Tax: ( 10,877 )
Profit(or loss) for the financial year: 63,337 (19,439)

LOW FELL COMMUNITY PRE-SCHOOL C.I.C.

Balance sheet

As at 31 August 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 250 250
Total fixed assets: 250 250
Current assets
Debtors: 4 1,171 2,079
Cash at bank and in hand: 77,092 4,669
Total current assets: 78,263 6,748
Creditors: amounts falling due within one year: 5 ( 13,069 ) ( 4,891 )
Net current assets (liabilities): 65,194 1,857
Total assets less current liabilities: 65,444 2,107
Total net assets (liabilities): 65,444 2,107
Members' funds
Profit and loss account: 65,444 2,107
Total members' funds: 65,444 2,107

The notes form part of these financial statements

LOW FELL COMMUNITY PRE-SCHOOL C.I.C.

Balance sheet statements

For the year ending 31 August 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 14 May 2025
and signed on behalf of the board by:

Name: D C Alston
Status: Director

The notes form part of these financial statements

LOW FELL COMMUNITY PRE-SCHOOL C.I.C.

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

    Tangible fixed assets depreciation policy

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

    Other accounting policies

    Taxation Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Pension costs and other post-retirement benefits The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

LOW FELL COMMUNITY PRE-SCHOOL C.I.C.

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 11 7

LOW FELL COMMUNITY PRE-SCHOOL C.I.C.

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 September 2023 250 250
Additions
Disposals
Revaluations
Transfers
At 31 August 2024 250 250
Depreciation
At 1 September 2023
Charge for year
On disposals
Other adjustments
At 31 August 2024
Net book value
At 31 August 2024 250 250
At 31 August 2023 250 250

LOW FELL COMMUNITY PRE-SCHOOL C.I.C.

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Debtors

2024 2023
£ £
Trade debtors 1,171 2,079
Total 1,171 2,079

LOW FELL COMMUNITY PRE-SCHOOL C.I.C.

Notes to the Financial Statements

for the Period Ended 31 August 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 11,786 514
Other creditors 1,283 4,377
Total 13,069 4,891

COMMUNITY INTEREST ANNUAL REPORT

LOW FELL COMMUNITY PRE-SCHOOL C.I.C.

Company Number: 12219566 (England and Wales)

Year Ending: 31 August 2024

Company activities and impact

Since the incorporation of the company, we have applied for OFSTED accreditation. This involved making the space that we have agreed to use secure, safe and comfortable for the children who will attend. We made an agreement with our landlords at Gateshead Fell Cricket Club to have exclusive use of their events hall. This meant we could create a permanent childcare facility available to all in the local community without having to travel to other facilities further afield. Despite many delays and complications caused by the Covid pandemic, OFSTED approval was awarded to the company on 10th July 2020. This allowed the pre-school to operate from the beginning of the 2020-21 school year starting on 7th September 2020. With help from the local authority, we have successfully made a local childcare and education facility available to local residents to provide Early Years funded education to 2, 3 and 4 year old children. In November 2022 we had our first OFSTED inspection and our facility received a “good” rating in all categories of the inspection. (https://reports.ofsted.gov.uk/provider/16/2570198) This financial year we had our busiest year yet with 45 children (32 last year) starting at our pre-school in September 2023 and we have waiting lists of many more families that wish to use our childcare facilities in the future. In January 2024 we had 53 children (40 last year) attending. In April 2024 this increased to 58 children (48 last year). At the end of the 2024 term we had 58 children making use of our pre-school facilities. From September 2020 when we began operating, 4 full and part-time jobs were created for local residents. Our workforce expanded further as demand increased in March of 2021 to 5 staff, then 6 in April of 2021. We had an apprentice training with us who became a permanent member of staff when this training was complete. The total number of staff employed at the end of the financial year has risen to 10, and we are currently recruiting for another staff member to cope with the demand for our services. We have funded and installed a completely new kitchen and dining room area for the children allowing a much more welcoming and specific space for all of the children who attend our setting to each lunch together with dedicated child-friendly facilities. The installation of cooking appliances allows an opportunity to engage in a broader range of activities with the children who attend. The development of this space has also been very well received by the staff. Investment within the pre-school space in furniture, art supplies, books, toys and activities has continued again this year to further develop the learning environment and make it as engaging and age-appropriate as possible for the children who attend. We have expanded the facilities available to the children who attend by continuing to develop an outside garden space. Significant investment has been made in play equipment, furniture, fencing, safety equipment and supplies to provide the children with the best possible learning experience. A dedicated office space has been created in the property for the management team as we look to sustain the business into the long term. A dedicated staff room area has been funded and created in the building allowing the staff to have a proper separate area for their lunch breaks. Our partnership with our landlords Gateshead Fell Cricket Club continues to benefit both community focused businesses - we are exploring ideas to collaborate on community events bringing more sporting opportunities to our families and awareness of our offering to local residents.

Consultation with stakeholders

The company’s stakeholders are the many residents in the local area who have children of Early Years age. Our facility is based very close to 2 major primary schools in the area and the local population has a high proportion of families with young children. We have met with and had lots of feedback from many of these families at our open day sessions regarding what people look for in a childcare facility and what would benefit their family situations. We quickly identified that people like to have as much flexibility as possible around when their children can attend. Many other childcare providers insist on full time attendance or a minimum attendance each week. Our company will provide families the opportunity to use our services in whatever pattern they wish to maximise opportunities to attend workplaces and spend as much time as possible with their children when not at work. Some of our children that joined us have moved from other childcare providers for this reason.

Directors' remuneration

The total amount paid or receivable by directors in respect of qualifying services was £64,844. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
1 May 2025

And signed on behalf of the board by:
Name: C Alston
Status: Director