| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| for |
| Ventnor Community Early Years Centre |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| for |
| Ventnor Community Early Years Centre |
| Ventnor Community Early Years Centre |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2024 |
| Page |
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 | to | 10 |
| Ventnor Community Early Years Centre (Registered number: 08457584) |
| Report of the Trustees |
| for the Year Ended 31 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 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 |
| 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. |
| Significant activities |
| This year marks an exciting new chapter for Ventnor Community Early Years. After a very busy summer holidays packing, moving and setting up our new classrooms it was time to commence the academic year. In September we opened our new premises to our wonderful children and families at St Francis Primary Academy. |
| The environment is truly outstanding and we feel extremely fortunate to have secured a modern purpose built space leaving behind a cold, damp and costly building. |
| By October it felt like home and the children were thriving, we particularly appreciated the underfloor heating which kept us warm and the outdoor canopy which keeps us dry, so we can play outside in all weathers. We felt a strong desire to further improve our practice and extend our knowledge and decided to join the Curiosity Approach Accreditation. Once complete we will become the first setting on the Isle of Wight with this status. |
| In December we celebrated Christmas with an outdoor winter wonderland afternoon. We invited children and families to come together and enjoy a warming BBQ, hot chocolates, craft activities, music & dancing and of course a visit from Father Christmas. This was planned for afterschool to enable us to come together as a community and older siblings from the school could participate. |
| In March we celebrated World Book Day and our theme was the Gruffalo. The children helped create a Gruffalo feast of Owl ice-cream and Gruffalo crumble. This was a rich learning experience for the children which promoted Literacy. |
| In June as we embarked on the last Half-Term of the year our school leavers were invited to visit the Reception Class on a daily basis. This was an exceptional transition for the children and they became very familiar with the school environment and new teachers. In addition we also studied the lifecycle of a butterfly and enjoyed outside water play. |
| In July we organised a games morning where we played traditional games such as sack racing and egg & spoon races. The children also benefited from a teddy bears picnic in the school woodland and a party. Our school leavers and parents were invited to a soft play activity centre to end the year. |
| Our school leavers were presented with an individual handmade bear to treasure as a reminder of their time with us. |
| This was a challenging year for staff as one member required a 6 month leave due to poor mental health and another a period of time for bereavement leave due to losing a parent. The team pulled together and we were still able to offer an amazing early years experience for the children. |
| Public benefit |
| In setting our objectives and planning our activities our Trustees have given serious consideration to the Charity |
| Commission’s general guidance on public benefit and in particular the advancement of education. |
| Ventnor Community Early Years Centre (Registered number: 08457584) |
| Report of the Trustees |
| for the Year Ended 31 August 2024 |
| FUTURE PLANS |
| The Trustees have been focussed on doing everything possible to achieve an improved Ofsted outcome at the December 2022 follow-up inspection and are delighted to report that the Ofsted report found the setting to be outstanding. |
| 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. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| Company Secretary |
| Independent Examiner |
| Selina Powder FMAAT |
| Allegri & Co. |
| 16c Sandown Road |
| Lake |
| Isle of Wight |
| PO36 9JP |
| Approved by order of the board of trustees on |
| Independent Examiner's Report to the Trustees of |
| Ventnor Community Early Years Centre |
| Independent examiner's report to the trustees of Ventnor Community Early Years Centre ('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 |
| 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. |
| Selina Powder FMAAT |
| The Association of Accounting Technicians |
| Allegri & Co. |
| 16c Sandown Road |
| Lake |
| Isle of Wight |
| PO36 9JP |
| Date: ............................................. |
| Ventnor Community Early Years Centre |
| Statement of Financial Activities |
| for the Year Ended 31 August 2024 |
| 31.8.24 | 31.8.23 |
| Unrestricted | Restricted | Total | Total |
| fund | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | ( |
) | ( |
) |
| TOTAL FUNDS CARRIED FORWARD | ( |
) | ( |
) | (10,826 | ) |
| Ventnor Community Early Years Centre (Registered number: 08457584) |
| Balance Sheet |
| 31 August 2024 |
| 31.8.24 | 31.8.23 |
| Unrestricted | Restricted | Total | Total |
| fund | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
( |
) |
| NET ASSETS/(LIABILITIES) | ( |
) | ( |
) | ( |
) |
| FUNDS | 8 |
| Unrestricted funds | ( |
) | (10,826 | ) |
| TOTAL FUNDS | ( |
) | (10,826 | ) |
| 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 |
| Ventnor Community Early Years Centre |
| Notes to the Financial Statements |
| for the Year Ended 31 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. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. |
| 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. |
| Ventnor Community Early Years Centre |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 2. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Depreciation - owned assets |
| Hire of plant and machinery | - | 237 |
| Other operating leases | 9,999 | 6,200 |
| 3. | TRUSTEES' REMUNERATION AND BENEFITS |
| No trustees received any remuneration or other benefits for their work as trustees for the year ended 31 August 2024 nor for the preceding year. Two of the trustees are full time paid employees of the Charity, their remuneration being wholly for their work as employees. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023. |
| 4. | STAFF COSTS |
| The average monthly number of employees during the year was as follows: |
| 31.8.24 | 31.8.23 |
| Teaching and care staff |
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| fund | funds | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Charitable activities |
| EXPENDITURE ON |
| Charitable activities |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 30,867 | - |
| TOTAL FUNDS CARRIED FORWARD | (10,826 | ) | - | (10,826 | ) |
| Ventnor Community Early Years Centre |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 6. | TANGIBLE FIXED ASSETS |
| Plant and | Computer |
| machinery | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2023 and 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Social security and other taxes |
| Pension Creditor | 278 | 286 |
| Wages creditor | - | 10,697 |
| Accrued expenses |
| 8. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.9.23 | in funds | 31.8.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | (10,826 | ) | 8,389 | (2,437 | ) |
| TOTAL FUNDS | ( |
) | 8,389 | (2,437 | ) |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 162,704 | (154,315 | ) | 8,389 |
| TOTAL FUNDS | ( |
) | 8,389 |
| Ventnor Community Early Years Centre |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 8. | MOVEMENT IN FUNDS - continued |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.9.22 | in funds | 31.8.23 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 30,867 | (41,693 | ) | (10,826 | ) |
| TOTAL FUNDS | 30,867 | (41,693 | ) | (10,826 | ) |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 147,175 | (188,868 | ) | (41,693 | ) |
| TOTAL FUNDS | 147,175 | (188,868 | ) | (41,693 | ) |
| 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 | 30,867 | (33,304 | ) | (2,437 | ) |
| TOTAL FUNDS | 30,867 | (33,304 | ) | (2,437 | ) |
| 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 | 309,879 | (343,183 | ) | (33,304 | ) |
| TOTAL FUNDS | 309,879 | (343,183 | ) | (33,304 | ) |
| Ventnor Community Early Years Centre |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 9. | RELATED PARTY DISCLOSURES |