The aims of the charity are to provide childcare at a modest price to allow parents to continue in their work. Childcare should be of the utmost importance and we aim to deliver this.

Kea Pre School Ltd provides nursery activities for young children.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Kea Preschool is situated in the curtilage of Kea CP School in the Parish of Kea in Cornwall. The Charity manages the preschool for children aged two to five years and also provides breakfast and after school facilities for the preschool children and for the primary children from the adjoining primary school.

The aim is to provide high quality care and education for our children at the most economic and affordable price. The area is not recognised as being economically deprived, but there are many parents in the locality whose circumstances are difficult at this time, and we strive to provide our service at the lowest possible price commensurate with excellent quality and imaginative objectives. Our aim is to serve the children, their families and the wider community by providing the best service that we can for the benefit of all concerned.

The day-to-day management of the preschool is in the hands of the preschool Manager, Tracey Verran, the Office Manager, Jo Polkinghorne, and two senior nominated staff including an Assistant Manager and Senior Practitioner.

Staff members are all well qualified and training is continually kept up to date with regular training events and courses to adhere to the Early Years statutory requirements. The staff always strive to ensure that all children thrive to reach their full potential.

Contact and interaction with parents is extremely important for all concerned.

Safeguarding of children, information and personal circumstances is a high priority.

The preschool has a building for the main activities, and there is separate room that is used by our children aged from 20 months old. There is a spacious outside area with a good selection of stimulating play equipment. Outdoor learning is an integral part of our preschool day with regular outdoor learning sessions that take place in our outdoor classroom and on the grounds of Kea CP School. We have a separate office and staff welfare space. This allows for good quality record keeping and business management arrangements. The space also provides a separate space for confidential conversations with staff, parents and other visitors. There is a cloakroom and storage area, within the main preschool room.

Safety of our children and staff is important with keypad access to the preschool and CCTV monitoring of all areas.

The Ofsted report in 2025 rated the preschool as good, and the enthusiastic support of the parents and families was highlighted.

There are currently 47 preschool children enrolled, with space for 30 on site each day. We also have 74 children on roll for breakfast club and afterschool club wraparound care.

We provide the only preschool facilities on the parish of Kea and are appreciated by the local community and Parish Council, with whom we enjoy excellent relationships.

The attached financial statements show the finances for the preschool for the year ended 31 December 2025. The accounts show a deficit for the year of £7,658 (2024: surplus of £7,751). We have endeavoured to keep control of our running costs and maintain affordable fees in order to maintain reserves for the purchase of potential equipment in the future.

The charity's reserves policy is to build up sufficient reserves to cover all liabilities as and when they fall due. The minimum level of reserves required for this will be continually reviewed by the board of Trustees. We have maintained a reserve of finance to ensure we comply with Charity Commission recommendations, and currently hold unrestricted, free reserves of £73,638 which are considered adequate.

The running of the pre school is overseen by the board of trustees. There are three trustees. We have endeavoured to apply succession management unsuccessfully, it is an ongoing situation.

Subject to meeting the requirements in the Articles, the charity may appoint new trustees by ordinary resolution.

The day to day running of the pre school is the responsibility of the manager, but strategic decisions are dealt with by the board of trustees.

Pre school manager remuneration is set at the current average for a similar position. Administrator remuneration is set at current average for similar position.

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.

For the financial year ending 31 December 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Kea Pre School Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Individual fixed assets costing £250 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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

Financial liabilities are classified according to the substance of the contractual arrangements entered into.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.