Annex D (ii) - Part 3 - Bank accounts

The bank account for FEEE payments must be in the name of or under the Registered Person (Legal Entity) for Ofsted purposes.

Examples:

• If the setting name is Caterpillar Pre-School and this is registered by Caterpillar Childcare Limited (as an organisation) then the Bank Account for FEEE payments must be in the name:
  • Caterpillar Childcare Limited – or
  • Caterpillar Childcare Limited t/a Caterpillar Pre-School – or
  • it may be in the name Caterpillar Pre-School but held under the legal entity Caterpillar Childcare Limited

Caterpillar Childcare Limited is the Registered Person (RP) for Caterpillar Pre-School

• If the setting name is Butterfly Pre-School and this is registered by A N Other (as an Individual) then the Bank Account for FEEE payments must be in the name:
  • A N Other – or
  • A N Other t/a Butterfly Pre-School – or
  • Butterfly Pre-School - but held under the individual A N Other as a Sole Trader

A N Other is the Registered Person (RP) for Butterfly Pre-School

• If subsequently, A N Other wants the business to be incorporated under Butterfly Childcare Limited then the setting must be RE-REGISTERED with Ofsted under Butterfly Childcare Limited and the bank account for FEEE will then have to be in the name of or under Butterfly Childcare Limited.
  
  Butterfly Childcare Limited will be the Registered Person (RP) for Butterfly Pre-School

In most cases involving transfer or sale of a childcare business, the new owner will have to re-register the setting with Ofsted.

In some instances, the proposed new registration may not be active at the time of completion of the business acquisition/transfer transaction.  To avoid having a break in service in the interest of continuity of care for children, Ofsted will allow for the setting to remain registered under the previous owner’s registration until the new registration is active. In this instance, until the new owner’s registration is active, the previous owner will remain legally responsible for the childcare at the setting and for all Ofsted purposes and for the funded early education entitlement (FEEE) being delivered at the setting.

Also, the Council is not able to share, with the new provider, any FEEE and financial data relating to the previous provider. This will be up to the point that the new provider’s registration is active, and they are signed up to the FEEE provider agreement. We would expect any such information to be shared, transparently, as part of the legal process of the business acquisition/transfer.

The signatory must be in a position within the organisation to sign the documents, in other words, the person signing the document must have legal and financial responsibility on behalf of the organisation.

The Council expects this to be the business owner, company director or a charity trustee. For certain organisations it may be the nominated person for Ofsted purposes or a senior officer but the Council may request evidence or proof that the signatory has the required authorisation for this purpose.