## ## ## |Brief statement ofthe
charity's
policy on reserves|Brief statement ofthe
charity's
policy on reserves|Paddocks Pre-school aims to hold sufhcient
financial reserves to sustain
the preschool
if our income falls below expected levels. Our intention
is to
continue
functioning
as a preschool,
if possible, and to cover the payment
of staff redundancies
in the unlikely event that the preschool
had to dose.
We aim to manage
our finances responsibly,
budget for predictable
fluctuations
in income and hold reserves to cover expenses due to other
eventualities,
including
staff redundancy
payments
in the case that the|Paddocks Pre-school aims to hold sufhcient
financial reserves to sustain
the preschool
if our income falls below expected levels. Our intention
is to
continue
functioning
as a preschool,
if possible, and to cover the payment
of staff redundancies
in the unlikely event that the preschool
had to dose.
We aim to manage
our finances responsibly,
budget for predictable
fluctuations
in income and hold reserves to cover expenses due to other
eventualities,
including
staff redundancy
payments
in the case that the| |---|---|---|---| |||preschool
had to close.|| |||We aim to hold sufficient funds
in reserve to cover:|| |||~Total running
costs —Our total running
costs fluctuate
with changes
in
registered
numbers
and subsequent
staffing and other expenses. Given
the fluctuating
nature of our income and expense
it would be useful to
hold in reserve one half term's worst case running
costs i.e., 245,000.|| |||+Potential
redundancy
costs: We must also hold sufficient reserves to
pay any redundancy
payments
to staff as required
by law ifthe preschool
had to close. Our redundancy
costs approximate
f40,000.Currently
the|| |||notice period under preschool's
employment
contracts is one half term.|| |||~Emergency
costs - 65000 (in case ofurgent
repairs/maintenance)
~The amount
held
in reserve is reviewed
to ensure that sufficient funds|| |||are kept at each year end and on change ofstaffing, and as necessary|if| |||a marked change occurs.
~In the event ofreserves falling significantly
below the target level, the|| |||preschool
will aim to restore the reserves as soon as possible
by|| |||increasing
fundraising,
increasing
earned
income, or reducing|| |||expenditure
~Ifreserves rise significantly
above the target level, the committee
will|| |||put in place a plan as soon as possible,
aiming to eliminate
the excess by
spending
money to enhance the quality of preschool
provision,
further the
aims ofthe preschool
or reduce fundraising.
The committee
will not,|| |||however,
take any steps that might call into question
the ability ofthe|| |||preschool to continue as a financially
viable operation
in the long term.|| |||The reserve as ofAugust 2022 was 2137,868.S1|| ## ||2022|2021| |---|---|---| |||6| |Assets||| |Bank and cash balances|137~.91|120,547.10| |Funds||| |Balance brought forward
Surplus forthe year|120,547.10
17,321.81
137,568.91|99,986.03
20,561.07
120,547.10| |Signed:||Date:| |||QW106)2.3| |Sarah Trellnska||| |«hair||| ## |||2022|2022|2021| |---|---|---|---|---| |||f||f.| |Income||||| |Donations
and legacies
Fundraising
Grant
Totai OCC Funding
Parents Fees
Playscheme
Voluntary
funding
supplement
Interest earned||568.00
1,832,70
141,597.83
23,565.25
1,178.00
5,~.85
81.59||4,055.37
10,280.0D
88,668.42
51,639.45
1,081.50
4,962.50
12,20| |Total Income|||174,254,22|160,899A4| |Expenditures
Advertising/Promotional
Bank charges
Cleaning
«onsumables|||324.00
93.0D
1A32.20
798.75|162.00
84.00
1,158.50
861.78| |Domain/Email/Webpage
Employment
costs
Financial services|||231.72
134,256.42
300.00|231,77.
114,963.08
300.0D| |Fundralsing
cost
General Office|||338.60
2,087.84|1,169.12
1,656.96| |Gifts|||319.10|363.14| |Health, Safety 8 Security
independent
Examination
Insurances|cost||880,99|1,275.95
75.0D
2,765.70| |Istaintenance/Repairs
OCC Specific Funding
Expenditure
Payroll Sendces
Profesional
membe rships|||8,253.93
3,17D.OO
531.00
50,00|1,727.50
1,995.00
495.00
100.00| |Raising funds
Rent|||150.00|150,00| |Resources, Toys8 Activities
StaffTraining|||1,380.33
SD.DO|6,342.29
2,255.47| |Travel and Accommodation|||5.20|| |Utilities
Waste Collection
Total Expenditures|||2,299.33
156,932,41|2,154.66
51.50
140,338,37| |Surp!us/(Deficit) forthe year|||17,321.81|20,561.07| |Sarah Trelinska
Chair||Dater 2.%(Odr/g~||| ## ##